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EURUSD Dips Below 1.1600 Amidst Dollar Strength: Bearish Bias Favors Selling Rallies

EURUSD trades below 1.1600 on board-based US dollar buying. The pair hits a intraday low of 1.15880 and is currently trading around 1.15908.

 

Technicals

CMP -1.15908

Trend

4-hour chart

Value

 

 

55 EMA

1.16116

CMP<value

Bearish

200- EMA

1.16270

CMP<value

Bearish

365- EMA

1.16094

CMP<value

Bearish

800-EMA

1.15646

CMP>value

Bullish

 

Major support- 1.15600/1.1500/1.4700/1.1430. Near-term resistance-11.1660/1.1700.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-52.30

ADX

Bearish

Strength increased from 18.37 to 20.58

 

 

 

It is good to  sell on rallies around 1.16040-50 with SL around 1.16500 for a TP of 1.1500.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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