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EUR/USD has failed on the upside

EUR/USD has failed on the upside

Information is not investment advice

Last week EUR/USD met resistance of the descending 50-week MA (currently at 1.1188). On the D1, we can see that the pair has failed to close above the 200-day MA for every single day since it touched this line on December 12. On Wednesday, the pair closed below the December support line. An attempt to regain higher levels on Thursday was not successful. With the daily Awesome Oscillator trying to make a top, we see the considerable risk of the price sliding down to 1.1080 (50-day MA). The next support is at 1.1065 (100-day MA). Resistance is at 1.1150 and 1.1188.

EURUSDDaily.png

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Levels to trade EUR/USD

The price action in EUR/USD has been quite unfavorable for the euro. On The W1, the 50-week MA limited the pair’s advance.

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