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Fade the Rally: EUR/USD Bounces Off Job Data, But Bears Eye 1.1620 Resistance

EURUSD gained slightly above 1.1600 after weak US private jobs data. The pair hits a intraday high of 1.16090 and is currently trading around 1.15992.

 

Technicals

CMP -1.15992

Trend

4-hour chart

Value

 

 

55 EMA

1.16164

CMP<value

Bearish

200- EMA

1.15655

CMP>value

Bullish

365- EMA

1.15513

CMP>value

Bullish

800-EMA

1.15710

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

-130

ADX

Neutral

 

 

It is good to sell on rallies around 1.1618-20 with SL around 1.16600 for a TP of 1.1500.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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