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Technical Analysis Report - EUR/USD

09/08/2016 // 07:27:23 am

General outline:

The mood of the market was slightly bearish and the currency remained under stress on Monday. Despite the positive Industrial Production results in Germany and gain in Investors Confidence from Sentix, the currency was under stress.

Present scenario:

The currency pair, EUR/USD traded near to the Friday's close on Monday. The pair failed to regain the 1.1100 level. The market appears to be neutral. The resistance is observed at 1.1130, the support exists at 1.1050.

The MACD and RSI displays a sell signal. The MACD remained at the same level which confirms the strength of sellers. RSI remained close to the oversold area.

In the 4-hours chart, the price breached the 50, 100 and 200 Day EMAs in the earthward direction.


Trading commendations:

We are expecting the pair to break the level of 1.1050 and a further fall towards the recent lows at 1.1000.

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