Daily Technical Outlook on Major - EUR/USD
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Last Update At 25 Apr 2019 00:45GMT
Trend Daily Chart
Down
Daily Indicators
Falling
21 HR EMA
1.1179
55 HR EMA
1.1206
Trend Hourly Chart
Down
Hourly Indicators
Rising fm o/s
13 HR RSI
32
14 HR DMI
v3
Daily Analysis
Resumption of MT downtrend
Resistance
1.1231 - Y'day's high (AUS)
1.1192 - Tue's low (now res)
1.1177 - Mar's low (now res)
Support
1.1141 - Y'day's 22-month low
1.1129 - 50% proj. of 1.1815-1.1177 fm 1.1448
1.1054 - 61.8% proj. of 1.1815-1.1177 fm 1.1448
. EUR/USD - 1.1250.. Trading the euro was tricky as price swung wildly b4 tumbling on usd's strength in NY. Despite a brief dip to 1.1195 after soft German Ifo data, price rebounded to 1.1223 b4 falling to a 22-month 1.1141 low.
. On the bigger picture, despite euro's resumption of LT rise fm 2017 near 14-year bottom of 1.0341 to a fresh 3-year peak of 1.2555 in mid-Feb, subsequent selloff to 1.1216 in Nov 2018, then to a 20-month bottom at 1.1177 in early part of Mar confirms said major uptrend has made a top there. Despite subsequent rally to 1.1448 in Mar, euro's fall to 1.1184, then y'day's break of 1.1177 con- fimrs MT decline fm 1.2555 has resumed would head twd 1.1054 (61.8% proj. of 1.18 15-1.1177 measured fm 1.1448), 'bullish convergences' on daily indicators would keep price abv psychological 1.1000 this month. On the upside, only abv 1.1263 signals temp. low is made n risks retracement to 1.1263, then 1.1325.
. Today, euro's break of 1.0177 n daily close below there on Wed n with current price trading below the 21-hr n 55-hr emas, price is en eoute to 1.1100 after consolidation, however, oversold readings on hourly indicators should keep price abv 1.1054. Only abv 1.1200/10 signals temp. low is made, 1.1231, 1.1263.
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