Intraday trend – Bearish
Major intraday support– 1.1100
The pair has opened with a gap down of more than 90 pips on the escalation of geopolitical tension. Russian Putin has put nuclear forces on high alert. It has further increased demand for safe currency like the US dollar. Markets eye Russian-Ukraine talks for further direction. It hits an intraday low of 1.11184 and is currently trading around 1.11787.
Technical-
Any breach below 1.1100 confirms intraday bearishness. A dip to 1.080/1.0720 is possible.
The immediate resistance to be watched is 1.1230; any violation above will take the pair to 1.1265/1.1300/1.1400.
Indicators (4-hour)
Directional movement index –Bearish
CCI (50) – Bearish
It is good to sell on rallies around 1.1228-30 with SL around 1.1265 for a TP of 1.1150.
