tayalsmith
Short

EUR/USD analysis

FX_IDC:EURUSD   Euro Fx/U.S. Dollar
11 0 0
The secondary trend of EUR/USD             is bearish on charts. In its daily chart , the pair is sustaining below the trend line and is consolidating at lower levels. Price is sustaining below 200 day SMA indicating the bearish trend in the pair. It is having an important resistance at the level of 1.1280 and support at the level of 1.0890. If it breaks its support level and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-
MACD is sustaining in its negative territory supporting the upcoming bearish trend in the pair.
RSI is also sustaining in its selling zone indicating the upcoming bearish trend in the pair.

STRATEGY: EUR/USD             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
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