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Short

EUR/USD: Sell on rallies

FX:EURUSD   Euro Fx/U.S. Dollar
235 0 9
Major trend line support - 1.10160 ( trend line joining 1.07115 and 1.082115)

Major intraday resistance - 1.1061 (7 day EMA)

The pair has broken major support 1.0160 and declined till 1.09813 at the time of writing. It is currently trading around 1.09890.

The break below 1.0160 confirms minor trend reversal , a decline till 1.09100/1.0870 is possible.

On the higher side, any break above 1.1061 will take the pair till 1.10900 (200 HAM) and it should close above 1.10900 for further bullishness.

It is good to sell on rallies around 1.1000-.1002 with SL around 1.1061 for the TP of 1.0910/1.0870
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