EUR/USD Technical Analysis: Euro 50-pips away from the 2018 low post-US GDP

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  • EUR/USD is trading in a bear trend below the 200-period simple moving average. The US Gross Domestic Product for the third quarter came better than expected at 3.5% versus 3.3% expected. The reaction on EUR/USD was muted as the market is weak near daily lows. 
  • EUR/USD remains fragile near the yearly low at 1.1300 with technical indicators in oversold condition. The 1.1300 is the targets for bears. 
  • A break above 1.1400 would likely invalidate the current bearish momentum.

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Euro 50-pips away from the 2018 low post-US GDP

Spot rate:             1.1344
Relative change:  -0.27%  
High:                    1.1384
Low:                     1.1335

Main trend:             Bearish

Resistance 1:   1.1400 figure
Resistance 2:   1.1430 October 9 low
Resistance 3:   1.1463 October 4 low
Resistance 4:   1.1463 October 4 low
Resistance 5:   1.1500 figure and October 2 swing low 
Resistance 6:   1.1530 August 23 swing low (key level)

Support 1:   1.1350 figure
Support 2:   1.1300 current 2018 low
Support 3:   1.1200 figure   

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