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EURUSD Blasts Above 1.1600 on Broad USD Sell-Off – Bullish Momentum Accelerates Toward 1.1660

EURUSD gained above 1.1600 on broad-based US dollar selling. The pair hit an intraday high of 1.16140. It is currently trading around 1.15962.

 

Technicals

CMP -1.15676

Trend

4-hour chart

Value

 

 

55 EMA

1.15397

CMP>value

Bullish

200- EMA

1.14948

CMP>value

Bullish

365- EMA

1.15088

CMP>value

Bullish

800-EMA

1.15585

CMP>value

Bullish

 

Major support- 1.13700/1.12946. Near-term resistance: 1.15800/1.1660/1.1700.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

238.38

ADX

Bullish

Strength increased from 18.62  to 37.99

 

It is good to buy on dips around 1.15600 with SL around 1.15100 for a TP of 1.1660.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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