EUR/USD Technical analysis 2 January 2019
2019-01-02 05:16 am | Resource: Technical Analysis | No Views : 324
The EURUSD is moving in a sideway direction in the near term.
The EURUSD is still facing resistance and selling pressure around the 1.1480 level.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Therefore, we expect that the EURUSD will retreat to to the 1.1420 level, which by breaking it below will target the levels of 1.1350-1300.
The alternative scenario is that the EURUSD breached level of 1.1500 to the upside for 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: 1.1420 - 1.1350 - 1.1300
The pound weakened against major currencies in the European session on Monday, amid renewed uncertainty over Brexit, with officials from the UK and the European Union saying at the weekend that more work was needed to secure the Brexit agreement. After intense talks in Brussels, the EU's chief negotiator, Michel Barnier, said there was still a "big gap" on tariff arrangements. The pound traded in a negative territory against…
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