EUR/USD:Bearish divergence and 161.8% retracement
Major resistance -1.14265 (161.8% retracement of 1.13925 and 1.13384)
The pair has broken major psychological resistance 1.1400 and made fresh four-week high around 1.14154 at the time of writing. It is currently trading at 1.13968.
On the higher side resistance is around 1.14265 and any violation above will take the pair to next immediate resistance 1.1450/1.148 (261.8% retracement of 1.13927 and 1.13384)/1.1500 in the short term.
The EUR/USD support is at 21 day 4HMA -1.13680 and breaks below targets 1.1320/1.1300/1.1270 (90 4 H EMA).
In 4 hour chart both CCI(50) and RSI(14) is showing bearish divergence. So mild correction till 1.1320/1.1300 is possible.
It is good to sell on rallies around 1.1405-1.14100 with SL around 1.1450 for the TP of 1.1325/1.1300
The pair has broken major psychological resistance 1.1400 and made fresh four-week high around 1.14154 at the time of writing. It is currently trading at 1.13968.
On the higher side resistance is around 1.14265 and any violation above will take the pair to next immediate resistance 1.1450/1.148 (261.8% retracement of 1.13927 and 1.13384)/1.1500 in the short term.
The EUR/USD support is at 21 day 4HMA -1.13680 and breaks below targets 1.1320/1.1300/1.1270 (90 4 H EMA).
In 4 hour chart both CCI(50) and RSI(14) is showing bearish divergence. So mild correction till 1.1320/1.1300 is possible.
It is good to sell on rallies around 1.1405-1.14100 with SL around 1.1450 for the TP of 1.1325/1.1300
