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FxWirePro: EUR/USD forms shooting star chart pattern, good to sell on rallies

  • Candle stick pattern- Shooting Star
     
  • EUR/USD hits high 1.20813 yesterday which his almost near to 2017 high of 1.20920. The pair has shown a minor sell-off till 1.20265 from that high. The market awaits major releases US ISM and Fed minutes meeting today for further direction.
     
  • The pair jumped yesterday on account of better than expected Eurozone PMI data. Technically, near term is around 1.1999 (20- 4H MA) and any break below will drag the pair down till 1.1970 (4H Kijun-Sen)/1.1930 (55- 4H EMA).Minor weakness can be seen only below 1.1800.
     
  • On the higher side, near term resistance is around 1.20920 and any break below will take the pair till 1.2112 (161.8% fib)/1.21850/1.2297 (138.2% fib).             

It is good to sell on rallies around 1.2045-50 with SL around 1.2095 for the TP of 1.1970/1.1945.

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January 18 15:00 UTC Released

USYr Inf Prelim

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2.6 %

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2.5 %

January 18 15:00 UTC Released

USU Mich 1Yr Inf Prelim

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2.7 %

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2.7 %

January 31 00:00 UTC 508597508597m

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2016 bln ARS

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January 31 00:00 UTC 508597508597m

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January 22 19:00 UTC 520417520417m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 508597508597m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 520417520417m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 508597508597m

ARAnnual Primary Balance*

Actual

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2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 508597508597m

ARAnnual Primary Balance*

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2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 508597508597m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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