EURUSD is under the control of bears due to the anticipation over the Fed meeting. The support rests at 1.22460 with resistance at 1.22790 which both lines are below the weekly pivot point at 1.23190. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 100 and the EMA of 200. The RSI is moving in oversold area, the Stochastic is showing downward momentum and the MACD indicator is in the negative territory. The ADX is showing weak buy signal. EURUSD will continue its bearish trend along the Andrews’ Pitchfork; Short positions are recommended towards 1.218.
EURUSD analysis for 19.03.2018
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