EUR/USD: Double Top and Bearish Divergence
Major resistance : 1.11880 (Jun 24th high)
The pair ahs jumped till 1.11855 at the time of writing and declined from that level. It is currently trading around 1.11400.
The short term bearish trend from 1.14278 till 1.09115 will come to an end only if the pair breaks above 1.11880 level.
Any break above 1.1188 would take the pair to next immediate resistance 1.1235 (21 day MA and also 61.8% retracement of 1.14279 and 1.0911)/1.13000.
On the lower side, the break below 1.1070 ( trend line joining 1.09723 and 1.10239)/1.1000/1.0970.
It is good to sell on rallies around 1.1500 with SL around 1.1190 for the TP of 1.1070/1.100/1.0920
The pair ahs jumped till 1.11855 at the time of writing and declined from that level. It is currently trading around 1.11400.
The short term bearish trend from 1.14278 till 1.09115 will come to an end only if the pair breaks above 1.11880 level.
Any break above 1.1188 would take the pair to next immediate resistance 1.1235 (21 day MA and also 61.8% retracement of 1.14279 and 1.0911)/1.13000.
On the lower side, the break below 1.1070 ( trend line joining 1.09723 and 1.10239)/1.1000/1.0970.
It is good to sell on rallies around 1.1500 with SL around 1.1190 for the TP of 1.1070/1.100/1.0920