EUR/USD Technical analysis 28 December 2018
2018-12-28 08:13 am | Resource: Technical Analysis | No Views : 230
The EURUSD is moving in a sideway direction in the near term.
The purchasing power managed to control the movement of the EURUSD to bounce back again to reach to level of 1.1480.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Accordingly, we expect that the EURUSD will test levels of 1.1484-1.1500.
The alternative scenario is that the EURUSD breach level of 1.1500 to the upside targeting the 1.1550 level.
Our view is currently neutral for the EURUSD pair.
The fundamental overview
• On the economic data level there is no evidence or reports with a strong impact on the euro zone or the US dollar.
Resistance: 1.1484 - 1.1500 - 1.1550
Support: 1.1401 - 1.1350 - 1.1300
The euro fell as the pound rose, while the dollar was mixed against the major currencies as trade negotiations continued and traders followed up with comments from the Chinese and US sides. The Federal Reserve Bank of New York is making a $ 67.6 billion purchase The Federal Reserve Bank of New York on Tuesday announced a $ 67.6 billion bid for the latest overnight repurchase. The bank's previous operation…
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