FxWirePro:EUR/USD upside capped by ichimoku cloud, good to sell on rallies
Major resistance -1.08735 Major support – 1.06980 (100- 4H MA) EUR/USD jumped above 1.08000 level and made a high of 1.08288. The upside is limited by daily cloud top and jump till 1.08735 is possible if it closes above …
EUR/USD jumped above 1.08000 level and made a high of 1.08288. The upside is limited by daily cloud top and jump till 1.08735 is possible if it closes above daily cloud.
On the lower side the pair has broken the 21- 4H MA at 1.0765 and this confirms minor weakness, a decline till 1.0725 (4H Kijun-Sen) is possible. Any break below 1.0700 (100- 4H MA) will take the pair till 1.06250 level.
The top formed on Dec 8th 2016 will be acting as major resistance and any break above targets 1.09335 (61.8% retracement of 1.12994 and 1.03402).
It is good to sell on rallies around 1.0755-1.07600 with SL around 1.08285 for the TP of 1.0625
