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EURUSD: Selling Pressure Remains. Major support has been broken

EURUSD: Selling Pressure Remains. Major support has been broken

EURUSD broke the key structures at 1.12200 and 1.11800.

One more time:

Intermediate Term

  • Diverging monetary policies of central banks
  • Slowing growth in Eurozone
  • Upcoming EU Parliament Elections
  • Italy Budget Issue
  • Brexit
  • Trade wars concerns via Boening vs Airbus
  • Political Turmoil

They all add weight on the EURO.

Near Term:

German 10-year bond yield has again dropped below zero.The 10-year treasury yield has also dropped nearly 10 basis points in the last ten days and may continue to lose ground as most major central banks have recently adopted dovish stance.

The US Dollar is still the strongest currency in the means of interest rates and macroeconomic figures of the country.


1.12000 support becomes resistance.

On the smaller time frames, we have a bullish crab pattern and we may see a minor retracement towards 1.11800-1.12000.

The U.S Durable Good Orders and Initial Jobless Claims data will be released today. Tomorrow we will have the U.S GDP Q1.

A better than expected data will send the pair 1.11000- 1.10800.

An emerging deep crab pattern would be completed at 1.10900. A deeper technical correction can be seen at 1.10900.

Pullbacks towards 1.11800 can be used as a selling opportunity targeting 1.11200 and 1.10900.



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DISCLAIMER: This is a technical analysis study, not advice or recommendation to invest money

EURUSD: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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