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EUR/USD: technical analysis

FX:EURUSD   Euro Fx/U.S. Dollar
140 1 2
EUR/USD, D1

On the daily chart , the pair is trading on the middle MA of Bollinger Bands . The price remains above its moving averages that are directed up. The RSI is trying to turn up in the Bullish zone above the 50 mark. The Composite is trying to turn up as well.

EUR/USD, H4

On the 4-hour chart, the pair is trying to break out the middle MA of Bollinger Bands . The price remains on the level with its moving averages that are directed horizontally. The RSI is growing having formed a Bullish divergence with the price. The Composite developed a larger upward move suggesting limited growth potential in the pair.

Key levels

Support levels: 1.1357 ( local             lows), 1.1219 (end of April             lows), 1.1139 (end of March lows).
Resistance levels: 1.1466 (psychologically important level), 1.1532 (February 2015 lows), 1.1602 ( local             highs).

Trading tips

Short positions can be opened from the level of 1.1350 with the target at 1.1234 and stop-loss at 1.1385. Validity – 2-3 days.
Long positions can be opened from the level of 1.1476 with targets at 1.1522, 1.1582 and stop-loss at 1.1450. Validity – 2-3 days.
More analytic from LiteForex https://www.liteforex.com/trading/forex-analysis/?uid=880952068&cid=12118
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