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- Candle Stick pattern formed – Shooting Star
- The pair jumped sharply till 1.000 on 25th Oct and declined sharply from that level. It is trading around 0.99336.
- Short term trend is weak as long as resistance 1.000 holds. Any violation above 1.0000 confirms further bullishness, a jump till 1.0040/1.0090 is possible.
- On the lower side, support stands at 0.9900 and any indicative break below targets 0.9840 (21-day MA)/0.9780.
- Short-term reversal only above 1.000.
It is good to sell on rallies around 0.9960 with SL around 1.000 for the TP of 0.9845/0.9780.
Resistance
R1-0.9960
R2-1.000
R3-1.00390
Support
S1-0.9900
S2-0.9845
S3- 0.9780
