EUR/USD faces resistance at 1.618% extension, sell on rallies
Major resistance – 1.13200 (161.8% retracement of 1.1280 and 1.10578)
The pair has made a high of 1.12963 and slightly decline from that level. It is currently trading around 1.12870.
Intraday trend is slightly weak as long as resistance 1.1350 (trend line joining 1.1495 and 1.1376) holds.
Any break above 1.1340 will take the pair to next level till 1.1380/1.14375.
Short term trend reversal only above 1.1380.
It is good to sell on rallies around 1.1290-95 with SL around 1.1350 for the TP of 1.1200/1.1155
The pair has made a high of 1.12963 and slightly decline from that level. It is currently trading around 1.12870.
Intraday trend is slightly weak as long as resistance 1.1350 (trend line joining 1.1495 and 1.1376) holds.
Any break above 1.1340 will take the pair to next level till 1.1380/1.14375.
Short term trend reversal only above 1.1380.
It is good to sell on rallies around 1.1290-95 with SL around 1.1350 for the TP of 1.1200/1.1155