FxWirePro- EURUSD struggles to break above 1.1000, good to sell on rallies

Potential Reversal Zone (PRZ)-  1.12150

EURUSD  trades weak despite upbeat European economic data. It hit a low of 1.109763 yesterday g  and is currently trading around 1.109771.

German’s Industrial Production came at 2.9% in Sep, above market expectations of 0.80%.

Intraday bias remains bearish as long as resistance 1.1000 holds.

Market eyes Fed member Bostin, Collins, and Jefferson's speech for further movement.

Technicals-

 The pair is trading below  34- and 55 EMA in the 4-hour chart.

The near-term resistance is around 1.1000, a breach above targets 1.1030-/1.106501.10850/1.11050/1.1150.  Major bullish continuation only above 1.1150. A jump above will take the pair to 1.11780/1.12150. The immediate support is at 1.0950,any violation below will drag the pair to 1.09025/1.0900.

 Indicator ( 4-Hour chart)

CCI (50)- Bearish

Average directional movement Index -Neutral. All indicators confirm a bearish trend.

Sell-on rallies around 1.1000 with SL around 1.1050 for a TP of 1.09250.