EURUSD Rises With Low Momentum !

EURO dollar 594 e1579955875401

The EURUSD has spiked to 1.1380 levelsĀ , but the pair has been rejected with bearish divergence on the 4 hour time frame .

This development suggests a possible peak around 1.1385 levels, immediate support comes at the 1.1270 levels, a cut below the 1.1270 will confirm short term topping at the 1.1385 levels, If seen , focus will shift on the 1.1177/1.1131 levels , a halt is likely but a cut would open 1.1048 levels.

On the upside, to prevent the risk of a return to the 1.1177/1.1131 levels, sustained breakout above the 1.1385 levels is needed , If seen, focus will turn on the 1.1466/1.1533 levels..

Conclusion : As long as 1.1385 resistance holds on a 4 – hour closing basis, the EURUSD remains under pressure and further down towards the 1.1177/1.1131 levels couldn’t be ruled out , a clear break above the 1.1385 levels will pave the way towards the 1.1466/1.1533 levels..

EURUSD Rises With Low Momentum !

Further Reading :

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