EURUSD Intraday Technical Analysis


This month has seen a continuation of Eurozone’s data moderation since early 2018 and this has failed to impact EUR. Moreover, how has technical failure impacted the EURUSD pair? Analysts at Octafx presents their 19 April EURUSD Intraday Technical Analysis.

19 April, OctaFX – The euro currency has turned lower against the U.S dollar during the European trading session, after repeated technical rejections from the key 1.2400 resistance level.

The EURUSD currently trades around the 1.2360 level, as a lack of buying demand above the 1.2400 level weighs on the pairs intraday sentiment. The pivotal 1.2344 support level, now remains the gateway to further intraday losses towards the key 1.2300 support region.

19 April EURUSD Intraday Technical Analysis

  • The EURUSD remains bearish while trading below the 1.2382 level, further intraday losses towards the 1.2344 and 1.2300 levels seems possible.

  • If the EURUSD pair moves above the 1.2382 resistance level, buyers may again test the 1.2400 and 1.2413 resistance levels.

Disclaimer

This article about 19 April EURUSD Intraday Technical Analysis was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

Also, speculative trading is a challenging prospect, even to those with market experience and an understanding of the risks involved.

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