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ECB Hikes, Euro Dives: EURUSD Bears Reload for a Run to 1.1400

EURUSD lost its shine despite the ECB rate hike. It struck a low of 1.15072 and is now trading about 1.15091.

 

Technicals

CMP -1.15081

Trend

4- Hour chart

Value

 

 

55 EMA

1.15779

CMP< value

Bearish

200- EMA

1.16325

CMP<value

Bearish

365- EMA

1.16513

CMP<value

Bearish

 

Major support- 1.14835/1.1435. Near-term resistance- 1.1550/1.15800/1.16620.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-81.15

ADX

Bearish

Strength increased from 16.83 to 18.02

 

It is good to sell on rallies around 1.1538-40 with SL around 1.1600 for a TP of 1.1400.

 

 

 

 

 

 

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