Technical analysis of EUR/USD for 08/04/2019

Technical market overview:

The EUR/USD pair has bounced from the level of 1.1183 and has been moving sideways since then. The attempt to rally was capped at the technical resistance at the level of 1.1249 and after this happened, the market has been trading in an even tighter range between the levels of 1.1210 - 1.1249. The momentum remains neutral and so are the market conditions.

Weekly Pivot Points:

WR3 - 1.1316

WR2 - 1.1286

WR1 - 1.1248

Weekly Pivot - 1.1215

WS1 - 1.1175

WS2 - 1.1141

WS3 - 1.1100

Trading recommendations:

The global investors wait for the breakout in either direction and because the range is now very tight, the breakout might be severe. Please notice, the larget time frame trend remains bearish.

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

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