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EUR/USD Bounces from Monthly Low, But Bearish Pressure Remains

EURUSD recovered slightly after hitting a monthly low. It hit an intraday low of 1.13532 and is now trading at about 1.14034.

Technicals

CMP -1.14034

Trend

4-hour chart

Value

 

 

55 EMA

1.14014

CMP>value

Bullish

200- EMA

1.14508

CMP<value

Bearish

365- EMA

1.15039

CMP<value

Bearish

 

Major support- 1.13700/1.12946. Near-term resistance- 1.4380/1.14800/1.1500/1.1530.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-139

ADX

Neutral

 

 

It is good to sell on rallies around 1.14180-20, with an SL around 1.1455, for a TP of 1.1300.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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