Technical Analysis 25.04.2019

EURUSD

The pair found support at the level of 1.1140 and may partially recover as short positions are being closed, but there’s still a possibility of further drop as the EUR rate is still weak, while investors are interested in dollar assets.

The price is below the middle Bollinger band, above SMA 5, but below SMA 14. RSI is reversing upwards within the oversold territory. Stoch indicate similar tendencies.

Trading recommendations:

Sell the pair as it’s growing from about 1.1190 of after it breaks the level of 1.1140 with a likely target of 1.1100.