Technical Analysis: Bias Bearish
- The pair has broken below 110-EMA at 1.1741
- Momentum studies bearish, Stochs in oversold territory
- MACD supports bias lower
- -ve DMI dominance, ADX at 44 and rising
- price action has dipped into daily cloud
Support levels - 1.17, 1.1678 (23.6% Fib), 1.1643 (200-DMA)
Resistance levels - 1.1741 (110-EMA), 1.1788 (5-DMA), 1.18
Good to stay short on rallies around 1.1730/40, SL: 1.1790, TP: 1.1680/ 1.1645/ 1.16
- The pair has broken below 110-EMA at 1.1741
- Momentum studies bearish, Stochs in oversold territory
- MACD supports bias lower
- -ve DMI dominance, ADX at 44 and rising
- price action has dipped into daily cloud
Support levels - 1.17, 1.1678 (23.6% Fib), 1.1643 (200-DMA)
Resistance levels - 1.1741 (110-EMA), 1.1788 (5-DMA), 1.18
Good to stay short on rallies around 1.1730/40, SL: 1.1790, TP: 1.1680/ 1.1645/ 1.16
Note
All targets hit
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.