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4/22/2016 5:00:59 AM

EURUSD breaches an upside trend line - Technical Analysis - 22-04-2016



EURUSD kept falling in the intraday levels, ending a session marked with high volatility, after rising to a session-high at 1.1395, bouncing off it lower and turning these gains into losses before the close, with the pair breaching the main upward trend line in the short term as shown in the attached chart, coinciding with another breach of the SMA50, doubling the negative pressures on the coming trading.

Therefore we expect more losses to come for the stock, targeting the first support at 1.1148.


Target
Risk


Support
Resistance


Trend Bearish

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