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EUR/USD Relief Rally Crashes Into 200/365 EMA Wall: Sell-on-Rise Near 1.1600 Targets 1.1435

EURUSD recovered above 1.1550 on easing Middle East tensions. It struck a low of 1.14998 and is now trading about 1.15668.

 

Technicals

CMP -1.16217

Trend

4- Hour chart

Value

 

 

55 EMA

1.15521

CMP> value

Bullish

200- EMA

1.15941

CMP<value

Bearish

365- EMA

1.16167

CMP<value

Bearish

 

Major support- 1.1525/1.14835. Near-term resistance- 1.16620/1.1725/1.1765/1.1800

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

48.40

ADX

Neutral

 

 

It is good to sell on rallies around 1.16000, with an SL around 1.1660, for a TP of 1.1435.

 

 

 

 

 

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