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Best Opportunities, Vision and Technical Analysis for the EUR/USD pair 11 April 2019

2019-04-11 08:15 am | Resource: Technical Analysis | No Views : 82

We offer you the analysis of the Euro against the US dollar on Thursday , April 11, 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 sideway direction in the near term.
EUR/USD CHART
The EUR/USD was unable to break the 1.1283 resistance level as the EUR-USD is still facing resistance and selling pressure around this level.
In view of the technical indicators
Both the RSI and the Stochastic are pointing to the arrival of indicators to the overbought area.
  Therefore, we expect that the EUR-USD will fall below 1.146 to target the EUR/USD at 1.1205 - 1.1181 and this scenario fails in case of  stabilize above level of  1.1283.
  The alternative scenario is that the EUR against the US dollar test at 1.1323.
Big Picture
Looking at the EUR/USD move over the daily time frame, the EUR/USD pair was able to bounce back to test the upper boundary of the down channel around level of  1.1283, forming a negative candlestick pattern.
EUR/USD DAILY CHART
Recommendation
Our view is currently neutral around EUR-USD.
The fundamental overview
• On the economic data, several reports will have a strong impact on the movement of the EUR / USD such as the release of final data for German and French consumer prices at 6: 6.45 am GMT.
• On the other hand, the US Core Consumer Price Index will be released on a monthly basis at 12:30 GMT, as well as Clarida talk of the Federal Reserve Board of Governors at 1.30 pm GMT, as well as the Williams Fed Member's speech at 1.35 pm GMT, as well as Federal Reserve Chairman Bullard speech at 1.40 pm GMT, as well as Fed Chairman Bowman talk at 8 pm GMT, as well as US unemployment data at 12.30 GMT (GMT).
Resistance: 1.1283 - 1.1323 - 1.1355
Support: 1.1246 - 1.1205 - 1.1181
Direction: sideway
Technical Analysis
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