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Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 2 April 2019

2019-04-01 11:14 pm | Resource: Technical Analysis | No Views : 211

We offer you the analysis of the Euro against the US dollar on Thursday, April 2, 2019 with the most important expectations of the Euro against the US dollar in the market.
Time frame Used – 4h
The EUR/USD is moving in a bearish direction in the near term.
EUR/USD CHART
The EUR/USD failed to breach the 1.1246 resistance level for the second time as the selling force managed to push the EUR-USD back to the downside again as the EUR/USD broke down the important support level around 1.1200 level.
Level in view of technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators to the oversold area.
  Accordingly, we expect that the EUR/USD will target at 1.1174-1.1165-1.1105 levels  respectively, and this scenario fails in case of stability above level of  1.1210.
  The alternative scenario is that the EUR/USD retest level of 1.1246 again.
Big Picture
Looking at the EUR/USD movement on the daily time frame, the EUR-USD managed to violent the 1.1210 support level downwards.
EUR/USD DAILY CHART
Recommendation
Sell the EUR/USD around the 1.1200 – 1.1210 levels for targeting at 1.1174 - 1.1165 With the activation of stop loss in the case of the closure above level of 1.1210.
The fundamental overview
• On the economic data, a number of Euro-zone reports will be released, such as the release of Spanish Unemployment Change data at 7 am GMT, as well as the release of Euro zone producer prices on a monthly basis at 9 am GMT.
• US Durable Goods Orders will be released on a monthly basis at 12:30 GMT, as well as the release of total car sales data throughout the day.
Resistance: 1.1246 - 1.1286 - 1.1323
Support: 1.1174 - 1.1165 - 1.1105
Direction: Down
Technical Analysis
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