Forex Trading Signals
The major trend of EUR/USD is bearish, but from past 2-3 weeks, it has shown some profit booking, but again prices are not sustaining on higher levels & consolidating with a strong negative bias. In it s 4 hourly chart prices are sustaining on a rising trendline & taking resistaince from 30 & 200 DMA.
For few upcoming session we can expect downside movememnt in the pair. For today if EUR/USD breaks 1.1320 we can expect it to come down to the levels of 1.1275/1.1230Prices are taking support of 30 SMA & 200 SMA. RSI is also sustaining in selling territory supporting downside movement in the pair. MACD line has recently break the zero line downside, indicating the further bearishness in the market.
The major trend of EUR/USD is bearish, but from past 2-3 weeks, it has shown some profit booking, but again prices are not sustaining on higher levels & consolidating with a strong negative bias. In it s 4 hourly chart prices are sustaining on a rising trendline & taking resistaince from 30 & 200 DMA.
For few upcoming session we can expect downside movememnt in the pair. For today if EUR/USD breaks 1.1320 we can expect it to come down to the levels of 1.1275/1.1230Prices are taking support of 30 SMA & 200 SMA. RSI is also sustaining in selling territory supporting downside movement in the pair. MACD line has recently break the zero line downside, indicating the further bearishness in the market.
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STRATEGY :-
EUR/USD is looking weak on charts. One can go for sell on higher
level strategy for this pair for intra day to mid term positions.
Pivot Points
