Trader_97

EUR/USD POSSIBLE NEAR TERM TOP ?

FX:EURUSD   Euro/U.S. Dollar
253 0 4
We may have formed a top @ 1.0764 area.Momentum is seems to be fading however a bit of follow through and break below 1.0716 area is still required for a continued move lower.Near term support lies @ 1.0716-08 area.Another thing to keep an eye out for will be the short term T.L support from 18th of November which is intact.Breakout of that and we may see a retest of 1.0688-1.0666 area supports.On Hour 1 time frame prices have moved above the 100 day SMA and 50 day EMA .With the moving averages crossed over.Short term trend has turned bullish although upside maybe limited until the T.L Resistance from 15th of October remains intact ! RSI is just below the 60.00 mark but seems to be moving in a narrowing range.
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