Varonos

EUR/USD | Strong rejection of bullish momentum

FX:EURUSD   Euro / U.S. Dollar
Major Resistance level at 1.1045-1.1046. At these points EUR/USD failed to make a breakout and fell below this Resistance with increase in Volume , making this area significant.

Another key points:

- Price above SMA100 and SMA200.
- RSI in uptrend line above 50 and below its SMA12.
- Price far above the significant Support at 1.062.

We remain neutral for the moment.

Comments

here is what i will be looking at from a MTA perspective on it
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Good morning . I saw that too , and I've been shorting this pair for awhile now was looking to get back in on the short side around this area . what I was concerned about was it closed above the SMA200 .
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Varonos Tbrady12
@Tbrady12, It is a good chance short EUR/USD with a stop loss order at 1.11 because if it breaks out the Resistance zone at 1.05-1.08 then there is a significant chance to see a bullish momentum.
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