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Technical Analysis Report - EUR/USD

28/07/2016 // 06:09:38 am

General Outline:

The USD was in the limelight yesterday owing to the Fed meeting. The USA regulator left its rate constant.

 Present situation:

The currency pair displayed a humble bearish mood during the day. The trading instrument stayed around the level 1.1000 and it rose after the results from the Fed meeting. The resistance is observed at 1.1030, the support exists at 1.1050.

MACD indicator is very near to the centreline. If the histogram moves into the positive area, it will indicate the growing strength of the buyers. If MACD moves into the negative territory, we will see the sellers gaining back the control of the market. RSI grew to the overbought level.

The 1-hour chart displayed that the price breached the 50, 100 and 200 EMAs. The 50, 100 and 200 EMAs are turning upwards.

Trading Commendations

The pair remains bearish. The currency pair restarted its upward journey and if the instrument EUR/USD continues to rise, the level of 1.1130 will be reached soon.

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