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EUR/USD - Trend line resistance & Gartley

FX_IDC:EURUSD   Euro Fx/U.S. Dollar
Resistance - 1.1360, 1.1415, 1.1460

Support - 1.1342, 1.1296, 1.1232

  • Euro is having a tough time taking out confluence of resistance around 1.136 (falling trend line + rising trend line ).
  • If accepted above the same on a day end closing basis, the pair could rally to 1.1505 (Leg D of Gartley and also the potential reversal zone) in the next few days.
  • On the other hand, repeated failure to take out falling trend line hurdle could signal a fresh drop to 1.11 handle.
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