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EURUSD Weakens as Dollar Strength Dominates; Technicals Suggest Sell-on-Rally Opportunity

EURUSD lost its shine on board-based US dollar buying. The pair hit an intraday low of 1.14070 and is currently trading around 1.14182.

 

Technicals

CMP -1.14182

Trend

4-hour chart

Value

 

 

55 EMA

1.15069

CMP<value

Bearish

200- EMA

1.15510

CMP<value

Bearish

365- EMA

1.15502

CMP<value

Bearish

800-EMA

1.15678

CMP<value

Bearish

 

Major support- 1.14500/1.1430/1.1400/1.13500/1.13200. Near-term resistance-1.1450/1.1500/1.15350/1.1565/1.1600.

Momentum indicator

Inference

Value

CCI(50)

Bearish

-133

ADX

Bearish

Strength increased from 31.93 to 36.85

 

It is good to sell on rallies around  1.14350, with SL around 1.1480 for a TP of 1.13200

 

 

 

 

 

 

 

 

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