EUR/USD Technical analysis 31 December 2018
2018-12-30 10:08 pm | Resource: Technical Analysis | No Views : 244
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, Where the EURUSD faces resistance and selling pressure around the resistance levels of 1.1484.
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 retreat to levels of 1.1401-1.1350.
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 pound came under pressure against its main rivals at the European session on Wednesday, as concerns over Britain's exit from the European Union intensified after UK lawmakers rejected Prime Minister Boris Johnson's proposed timetable for pushing the deal ahead of the October 31 deadline. Faradkar: Brexit will last for a long time Irish Prime Minister Leo Faradkar predicted on Wednesday that Britain's pullout from the European Union "will last…
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