The secondary trend of EURUSD
is sideways on charts. In its hourly chart, the pair is sustaining above its rising trend line
, indicating the downside movement. It is not sustaining at higher levels and consolidating with strong negative bias to give break out at downside. Its 30 and 200 DMA are also supporting the upcoming bearish trend
in the pair. It is having an important support at the level of 1. 1305
. If it breaks its support level
and sustains below it then we can expect it to show further bearish
movement in the pair.
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.