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Forex Analysis:::2019-02-19

EUR/USD analysis for February 19, 2019

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EUR/USD is trading sideways at the price of 1.1283. Anyway, according to the H1 time – frame, we found potential end of the upward correction (running flat) at the price of 1.1333, which is a sign that buying looks risky. EUR failed to test the high at 1.1340, which is a sign that buyers are weak. We also found the breakout of the intraday support trendline inside of the running flat trendlines, which is another sign of weakness. We expect re-test of the lower diagonal and potential even the breakout.

Trading recommendation: We are bearish on EUR/USD from 1.1285 and protective stop at 1.1345. Profit targets are set at the price of 1.1233 and 1.1130.

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Petar Jacimovic
Analyst InstaForex
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