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Forex market analysis

January 2019

Technical Analysis 10.01.2019

EURUSD

The pair is in downtrend against the background of the full-on decline of USD rate due to the growing expectations of the Fed pausing the interest rate hikes this year.

The price is above the middle Bollinger band, above SMA 5 and SMA 14. RSI is in the overbought territory and is moving horizontally. Stoch have also entered this zone.

Trading recommendations:

If the pair remains above 1.1545, it may go further up to 1.1615.

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