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- Candle stick pattern- Shooting star.
- The pair has jumped sharply till 1.25375 after ECB press conference and started to decline sharply from that level. The pair formed a minor bottom around 1.2360 and is consolidating around that level. It is currently trading around 1.24088.
- It should close above 1.2500 for further bullishness. Any close above 1.2500 will take the pair to next level till 1.2540/1.2600 level. The minor resistance is around 1.2450.
- The near term major support is around 1.2360 (5- day MA) and any break below confirms minor weakness and a dip till 1.2295 (10- day MA)/1.2200.
It is good to sell below 1.2360 with SL around 1.2430 for the TP of 1.2240/1.2200
