EUR./USD analysis for April 10, 2019

EUR/USD has been trading sideways at the price of 1.1257. The 2-day trend got broken and the trend shifted from bullish to bearish. We see EUR/USD lower in the next few days.

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According to the H4 time-frame, we found that potential bearish flag is completed (ABC zig-zag bullish correction) and 20day downward trend may resume. The key resistance level is seen at the price of 1.1285. Support levels are seen at the price of 1.1205 and 1. 1185.

Trading recommendation: We sold EUR from 1.1235 with target at 1.1185. Protective stop is placed above the 1.1285.

The material has been provided by InstaForex Company - www.instaforex.com

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