Pattern formed- Triple bottom Major resistance – 1.1210 (21- day MA). The pair has broken 200-day MA at 1.1146 and declined till 1.11231 at the time of writing. It is currently trading around 1.11512. EUR/USD has formed …
The pair has broken 200-day MA at 1.1146 and declined till 1.11231 at the time of writing. It is currently trading around 1.11512.
EUR/USD has formed a triple bottom around 1.11200 and any further weakness can be seen only below that level.
Any break below 1.1120 will drag the pair further till 1.1045/1.100 in the short term.
On the higher side, any break above 1.1164 (50- day MA) will take the EUR/USD to next immediate resistance at 1.1210/1.1245. Short term bullishness only above 1.12840 (Sep 15th high).
Overall bullishness only above 1.13660.
It is good to sell only below 1.11200 with SL around 1.11650 for the TP of 1.1045/1.1000
