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EUR/USD in Freefall: Triple EMA Smash Confirms 1.1400 Dive

EUR/USD lost its shine and hit a 3-month low on US dollar strength. It hits an intraday low of 1.14809 and is currently trading around 1.14809.  Intraday trend remains bearish as long as resistance 1.1540 holds. 

The pair is holding below the 55 EMA, 200 EMA, and 365 EMA on the 4-hour chart. Near-term resistance is seen at 1.15450; a break above this may push the pair to targets of  1.1575/1.1600/1.1670/1.1700/1.1765/1800/1.1835/1.1850/1.1920. On the downside, support is seen at 1.1480; any violation below will drag the pair to 1.1435/1.1400.

Market Indicators and Trading Strategy

Commodity Channel Index (CCI)-  Bearish

Average Directional Movement Index (ADX) - Bearish

 It is good to sell on rallies around 1.1500 with a stop-loss at 1.1545 for a target price of 1.1435/1.1400.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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