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EUR/USD is facing resistance around 1.0935, decline till 1.0680 is possible

RES 4:1.1035 (Apr 6th High) RES 3: 1.100 RES 2: 1.0935 (61.8% retracement of 1.105 and 1.0520) RES 1: 1.0847 (Apr 17th high) PRICE: 1.08036 @ 6:19 GMT SUP 1: 1.0800 SUP 2: 1.0753 (200 day HMA) SUP 3: 1.0640 (61.8% retrac…

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  • RES 4:1.1035 (Apr 6th High)

  • RES 3: 1.100
  • RES 2:   1.0935 (61.8% retracement of 1.105 and 1.0520)

  •  RES 1: 1.0847 (Apr 17th high)

      PRICE: 1.08036 @ 6:19 GMT 

  • SUP 1: 1.0800

  • SUP 2: 1.0753 (200 day HMA)

  • SUP 3: 1.0640 (61.8% retracement of 1.0520 and 1.0847)

  • SUP 4: 1.0580 (15th Apr low)

Commentary:

EUR/USD has retreated after making a high of 1.0895. It has formed Bearish gartley pattern in hourly chart and decline till 1.0680 is possible.

Technically EUR/USD is facing major resistance around 1.0935 and any break above would extend gains till 1.100/1.1035. The major support is around 1.0640 and any further weakness can be seen only below that level.

Sell around 1.0850 with stop around 1.0936 for the target of 1.0680.

 

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