Technical Analysis EUR/USD - Uniglobe Markets

Technical Analysis EUR/USD

Posted on May 15, 2019 at 05:20 AM

We expect the euro to depreciate against the US dollar to settle now around 1.1200 and stability below the mentioned level may lead to an extension in the downside to reach 1.1100

There is an increase in bearish forces, and trading below the moving averages is also supportive of negativity. We expect attempts to fall towards 1.1100 as the first target, breaching the 1.1250 price will cause us to be concerned about these negative expectations.

Support: 1.1160

Resistance: 1.1250

The pair is trading down below 1.1200 with a target of 1.1100 as long as 1.1250 is intact

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