FxGrow Daily Technical Analysis – 05th April, 2016
By FxGrow Research & Analysis Team
EURUSD overbought territory might lead to strong pullback
The EURUSD failed to continue gaining after reaching 1.1437 high this year. Hitting higher lows and failing to cut 1.1420 and the European Central Bank (ECB) dovish outlook for inflation and monetary policy give signs of a strong pullback and will open the door of a downside move. Cutting 1.1365 as a strong point will push the EURUSD lower toward 1.1345, 1.1325 and 1.1295 as next support levels.
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Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.