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Technical Analysis Report - EUR/USD

05/08/2016 // 05:34:57 am

General outline:

The euro continued to decline for the second day. The investors are now focussing on the nonfarm payrolls report which will be released later today.

Present scenario:

The dollar traded almost higher against the euro. The pair remained in a negative area. The resistance is observed at 1.1200, the support stands at 1.1130.

MACD is displaying a divergence pointing to a sell signal. RSI left the overvalued area and is heading earthwards.

In the 4-hours chart, the instrument bounced from the 50-EMA which crosses the 100 and 200 EMAs. The moving averages are neutral.

Trading commendations:

If the price makes breaches the 1.1130 support area, then we could see a fall towards 1.1050 and 1.1000.

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