EURUSD: Sell on rallies (Confirm target 1.1660)
EURUSD has broken major support of 1.1760 (55- day EMA) and declined till 1.17312 at the time of writing. The pair has closed slightly below 1.1800 yesterday and is currently trading around 1.17425.
No major economic data release in Eurozone and market awaits US durable goods order and pending home sales for further direction.
Technically pair is trading well below 100-4 HMA and 200- 4H MA has closed below 1.1870 (233- 4H MA) and this confirms major weakness, a decline till 1.17600 (55- day EMA)/1.1700 likely.
On the higher side, near term resistance around 1.1825 and any break above will take the pair to next level till 1.1870/ 1.1923 (20- day MA)/1.1965/1.2000. Overall bullish continuation only above 1.20925.
It is good to sell on rallies around 1.1760-1.17625 with SL around 1.1825 for the TP of 1.1660/1.1600.
No major economic data release in Eurozone and market awaits US durable goods order and pending home sales for further direction.
Technically pair is trading well below 100-4 HMA and 200- 4H MA has closed below 1.1870 (233- 4H MA) and this confirms major weakness, a decline till 1.17600 (55- day EMA)/1.1700 likely.
On the higher side, near term resistance around 1.1825 and any break above will take the pair to next level till 1.1870/ 1.1923 (20- day MA)/1.1965/1.2000. Overall bullish continuation only above 1.20925.
It is good to sell on rallies around 1.1760-1.17625 with SL around 1.1825 for the TP of 1.1660/1.1600.
