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Technical analysis of EUR/USD for 10.04.2019

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The EUR/USD pair has moved a little bit higher during the corrective cycle and the upper boundary of the corrective channel was almost hit. The local high was made at the level of 1.1284 before the pull-back towards the level of 1.1254 occurred. The momentum remains positive and strong, so another leg up is possible despite the overbought market conditions. The next target for bulls is seen at the level of 1.1331 if the level of 1.1284 is clearly violated in an impulsive fashion.

Technical analysis of EUR/USD for 05.04.2019

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The EUR/USD pair has not been able to break through the technical resistance at the level of 1.1249 and moved down towards the nearest support at the level of 1.1210. The horizontal consolidation is now even tighter and the breakout from it will be severe for one side of the market. The momentum remains neutral and the market conditions are overbought, which increases the probability of a down move continuation.

Technical analysis of EUR/USD for 04.04.2019

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The EUR/USD pair has been trading below technical resistance at the level of 1.1249 for some time now and the bounce looks weak and slow so far. In order to make it more dynamic, the bulls would have to break through the resistance level and go towards the next technical resistance seen at 1.1284. The momentum remains neutral and the market conditions are starting to become overbought, which increases the probability of a down move continuation.

Technical analysis of EUR/USD for 01.04.2019

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At the beginning of the week, the EUR/USD pair is still continuing the horizontal consolidation in the low volatility market. The current consolidation zone is located between the levels of 1.1210 - 1.1220 and the current swing low is just at the level of 1.1176. The momentum remains weak and negative despite the clearly oversold market conditions, so there is still a chance for the move towards the level of 1.1176 soon. The nearest technical resistance is seen at the level of 1.1249. The short-term outlook remains bearish.

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