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    Technical analysis and trading recommendation of EUR against USD,CAD & AUD for April 01, 2015

    TTechnical analysis of EUR against USD, AUD&CAD


    German economic data printed in an optimistic view. Data on German retail sales was softened, printed at negative 0.5% far below the previous 2.3%. However, it remains above the forecast. The German unemployment rate fell to 6.4% from 6.5% in February. It beat the expectations of analysts. This is a clear sign that the economy is strengthening. But data on unemployment rate in Italy formed a negative impression about unemployment data.

    The CPI in the eurozone remained negative in March. Data was printed at negative 0.1%. The core inflation hit 0.6% compared to 0.7% for the previous period.

    Upcoming events: Today, traders eye on the Spanish and Italian Manufacturing PMI. Italian manufacturing PMI improved for 2- consecutive months. US data will dominate at today's session.

    Technical view:

    After a 4-day consolidation at 2Dsma, the pair has finally closed below that level at yesterday's session. Today, the euro is trading higher against USD ahead of the US data release. We have been advising to cap at 1.1050 in the near term. Intraday and weekly tends still favor to bears. Intraday resistance is seen at 1.0800 and weekly resistance is seen at 1.0890 respectively. Currently, the euro is hit a 10-day low against USD. The euro looks bullish only against AUD. Rest of the crosses turns to bearish mode. We recommended selling below 1.0800 on Monday and Tuesday; we still recommend the selling strategy with targets at 1.0770, 1.0670, and 1.0620. Use every rise to sell with sl 1.0890. In the hourly chart, we can observe lower lows and lower highs formation. The support level 1.0800 turns to bearish. Now, it is acting at intraday resistance.

    Trade: We remains with yesterday's selling trade for the targets at 1.0670 and 1.0620.


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    The pair gave an upside breakout at 1.4069. We have been recommending buying with sl 1.3820 with target at1.4000. The pair made a high at 1.4185. The price has been consolidating above the breakout level. Intraday trend favors to bears. Intraday resistance is seen at 1.4135 and support is found at 1.4050. Weekly support is found at 1.4000. We recommend fresh selling below 1.4040 with targets at 1.4000, 1.3880, 1.3850, and 1.3820. In the h4 chart, price has been developing higher highs and higher lows. We are not aggressive on selling in the current scenario. Let the pair close below 1.4050, then we can sell aggressively. The strong selling will be emerge below 1.3820 with targets at new fresh low at 1.3660. Fresh buying will emerge above 1.4190 with targets at 1.4220,1.4250, and 1.4280. Strong resistance is seen at 1.4280 50Dsma.

    Trade: Selling below 1.4080, safe selling below 1.4040 panic below 1.4000


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    The pair made a triple top at 1.3760. It's clear that the near term was capped, but the price has been making higher lows in the h4 chart. The fall in crude oil prices helped the pair move up slowly. Strong resistance zone is seen between 1.3765 and 1.3785. Until the pair closes below 1.3785, use every rise to sell. For an intraday, we recommend fresh selling below 1.3570 with targets at 1.3530 and 1.3480. Fresh upward movement will ignite if the price closes above 1.3665.

    Trade: selling below 1.3570Use every rise to sell 1.3680 with sl 1.3765

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    Uitgevoerd door, Analytische expert
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