Technical analysis of EUR/USD for 25/04/2019

Technical Market Overview:

After a failure to break through the technical resistance, the EUR/USD pair has broken through the key technical support at the level of 1.1176 and made a new local low at the level of 1.1141. The downtrend resumed as anticipated despite the oversold market conditions. The momentum is weak and negative, so the next target for bears is seen at the level of 1.1118.

Weekly Pivot Points:

WR3 - 1.1384

WR2 - 1.1352

WR1 - 1.1289

Weekly Pivot - 1.1254

WS1 - 1.1188

WS2 - 1.1157

WS3 - 1.1092

Trading recommendations:

The take profit level for sell orders has been hit (technical support at the level of 1.1176) and now all sell orders should be closed. If anyone still has an open sell order, the next target is seen at the level of 1.1118.

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

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