FXstreet.com (Barcelona) - The Euro has declined all the way from 1.3395 high on Apr 13 to a one month low at 1.2885 on Monday's U.S. session, the Euro has been moving afterwards from 1.2900 to 1.2950.
Immediate resistance level might be at 1.2950, and above here 1.3020 (Apr 20 high), if the Euro rises above here, 1.3085 (Apr 10 low could be on sight). On the downside, Apr 20 low at 1.2885 might be the closest support level, and once below here, possibly 1.2835 (Mar 16 low) and 1.2755 (Mar 6 high).
According to the Mataf.net technical team, the Euro will be trading under a bearish pressure while below 1.3000: EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a resistance below 1,3000 (50 pips). The downtrend should continue to gather momentum.
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