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Short

EUR/USD faces resistance at 1.618% extension, sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
554 1 12
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
Marvin
a year ago
Hi there. I have a general question for you. With a lot of your ideas you say for example "it is good to sell on rallies around...." as you do with this one. But obviously one can't just do that without having more critera that is met. Are you publishing this kind of thing on the assumption that the reader has such critera and uses your information as a kind of confirmation? If not then maybe you can explain how you think that we the reader can and should use it? Thanks.
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