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Trend line resistance - 1.16695 (Trend line resistance )
Candle stick pattern - Shooting star
Bearish divergence (CCI (50)
EURUSD has pared most of its gains after hitting high of 1.16531. The pair gained more than 100 pips after Fed Chairman Powell was moderately dovish at Jacksonhole symposium. The Pair hits low of 1.16038. It is currently trading around 1.16044.
The near term support is around 1.1580 and any violation below targets 1.1550/1.1500.
On the higher side, near term resistance is around 1.16695 and any convincing break above targets 1.1700/1.11745.
It is good to sell on rallies around 1.16125-150 with SL around 1.16700 for the TP of 1.1500.
