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EUR/USD Bearish Rebound: Selling the Rallies Near Trendline Resistance

EURUSD facing strong trendline resistance around 1.1250. It hits an intraday high of 1.1250 and is currently trading around 1.11938.

 

Technicals

CMP -1.11938

Trend

1-hour chart

Value

 

 

55 EMA

1.12643

CMP<value

Bearish

200- EMA

1.14095

CMP<value

Bearish

365- EMA

1.14625

CMP<value

Bearish

800-EMA

1.15205

CMP<value

Bearish

 

Major support-1.11500/1.1000/1.10 Near-term resistance-1.1265/1.1300/1.1365/1.1400/1.1435/1.1500.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-71

ADX

Neutral

 

 

 

It is good to sell on rallies around 1.1218-220 with SL around 1.1265  for a TP of 1.1150/1.100.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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