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Fed-ECB Policy Chasm Sends EURUSD Tumbling to 1.1375; Bearish Momentum Builds Toward 1.1300

EURUSD trades weak for the fifth consecutive day on policy divergence between the Fed and the ECB. It strikes an intraday low of 1.13758 and is now trading at about 1.13809

 

Technicals

CMP -1.13809

Trend

4- Hour chart

Value

 

 

55 EMA

1.15141

CMP< value

Bearish

200- EMA

1.16063

CMP<value

Bearish

365- EMA

1.15908

CMP<value

Bearish

 

Major support- 1.1400/1.13600/1.12946. Near-term resistance- 1.1500/1.1530/1.1580/1.1625/1.16620.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-124.92

ADX

Bearish

Strength increased from 47.12 to 51.69

 

 

It is good to sell on rallies around 1.14248-50 with SL around 1.1465  for a TP of 1.1360/1.1300.

 

 

 

 

 

 

 

 

 

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