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20.03.201909:49 Forex Analysis & Reviews: Technical analysis for EUR/USD for March 20, 2019

Long-term review
This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD has reached our target area but there is still no sign of a reversal. Our medium-term view remains bearish as long as price is below 1.14, but bulls could still hope for a longer-term reversal as long as price holds above 1.13.

Exchange Rates 20.03.2019 analysis

Blue line - bearish divergence

Red line -major resistance trend line

Green line - support trend line

Orange rectangle -short-term support

Red rectangle - resistance area

EUR/USD is trading above 1.1330 inside our target area, but still below the important long-term resistance trend line. As long as price is below this trend line I will remain bearish. The bearish RSI divergence supports my bearish view for a pullback at least towards 1.13 over the coming days. Breaking below 1.1290-1.13 support will open the way for a move towards 1.12 and lower. I prefer to be bearish at the current levels with stops above 1.14.

Alexandros Yfantis
Analytical expert of InstaForex
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