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EURUSD Analysis 19.04.2019

The single currency of the European Union region fluctuated in a narrow upward range during the Asian session against the US dollar amid a lack of economic data from the Euro-zone economies, absent from the Good Friday holiday in most of the world's countries and on the eve of economic developments and data expected Friday by the US economy The world's largest economy.

At 04:10 GMT, the EURUSD rose 0.06% to levels of 1.1237 compared to the opening at 1.1231, after reaching the highest level at 1.1242, while reaching a low of 1.1229.

Investors are currently waiting for the US economy to release housing market data with the Housing Starts and Building Permits reading, which may be up in March as building permits are expected to show a 0.7% rise to 1,300,000 versus a decline 1.6% to 1,296 thousand, and construction starts up 5.9% to 1,230,000 versus 8.7% at 1,162 homes.

Technical analysis:

EUR / USD traded below 1.1243 after yesterday's negative pressure, where the SMA 50 formed a strong resistance to the price, which might push the price to test the pivotal support 1.1180, but we note that Stochastic is shedding its positive momentum in the signal for a factor Positive may push the price to recover again.

Therefore, we prefer to stop on the neutral until we get a clearer signal for the next direction, which we will get through breaking support 1.1180 or break resistance 1.1243, noting that the breach of this resistance will reactivate the scenario of the temporary upward trend targeting 1.1350 and 1.1443 mainly , While breaking the support will press the price to continue the bearish trend in the short and medium term, to turn towards 1.1100 as a next negative station.

The trading range for today is among the key support at 1.1160 and resistance at 1.1330

The expected general trend for today: neutral

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