FxWirePro: EUR/USD faces strong resistance at 1.1130, good to sell on rallies
Major support – 1.10525 (trend line joining 1.1002 and 1.10156) Major Resistance- 1.11260 (Jul 12th 2016 high). The pair has made a high of 1.11260 yesterday and declined till 1.10420 at the time of writing. It is curren…
Major support – 1.10525 (trend line joining 1.1002 and 1.10156)
Major Resistance- 1.11260 (Jul 12th 2016 high).
The pair has made a high of 1.11260 yesterday and declined till 1.10420 at the time of writing. It is currently trading around 1.10626.
Minor trend is weak as long as resistance 1.1130 holds. Any indicative break above 1.1130 will take the pair to next level till 1.1188/1.1235 in the short term.
Short term trend reversal only above 1.11880.
On the lower side, any break below 1.10500 will drag the pair down till 1.100/1.0970/1.0910.
It is good to sell on rallies around 1.10580-1.1062 with SL around 1.1130 for the TP of 1.100/1.0970/1.0910.
