Potential Reversal Zone (PRZ)- 1.09500
EURUSD trades weak on board-based US dollar buying. is consolidating after a massive sell-off. It hit a low of 1.109509 yesterday g and is currently trading around 1.109823.
Fed member Speech -
Fed Bostic- President of the Federal Reserve Bank of Atlanta said that
Economy Is Close To Fed's Targets And ‘Moving Closer’ - Inflation Rate Is Still 'Quite A Ways' Above 2% - Monthly Job Creation Is Above What’s Needed To Account For Population Growth
Intraday bias remains bearish as long as resistance 1.1000 holds.
Markets eye FOMC meeting minutes for further direction.
Technicals-
The pair is trading below 34-,55 EMA, and 200 and 365 Hull moving averages in the 4-hour chart.
The near-term resistance is around 1.1000, a breach above targets 1.1030-/1.106501.10850/1.11050/1.1150. Major bullish continuation only above 1.1150. A jump above will take the pair to 1.11780/1.12150. The immediate support is at 1.0950, any violation below will drag the pair to 1.0920/1.08750/1.08600/1.0800.
Indicator ( 4-Hour chart)
CCI (50)- Bearish
Average directional movement Index - Bearish. All indicators confirm a bearish trend.
Sell- below 1.09500 with SL around 1.09800 for TP of 1.08750.
