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Euro Bulls Charge Past 1.1600: Broad Dollar Sell-Off Ignites Powerful EURUSD Rally

 

 

EURUSD gained sharply above 1.1600on board-based US dollar selling. It hits an low of  1.14407 and is currently trading around 1.16146.

 

Technicals

CMP -1.16146

Trend

1- Hour chart

Value

 

 

55 EMA

1.15380

CMP>value

Bullish

200- EMA

1.15367

CMP>value

Bullish

365- EMA

1.15552

CMP >value

Bullish

 

Major support- 1.14.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

128

ADX

Bullish

Strength increased to 55.94 from 46.20

 

It is good to buy on dips around 1.15850-60 with SL around 1.15250 for a TP of 1.1700.

 

 

 

 

 

 

 

 

 

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