Candle stick pattern – Shooting star.
EUR/USD formed major top around 1.17120 yesterday and showing a minor decline from that level. The pair declined till 1.16128 at the time of writing. It is currently trading around 1.16465.
The pair has formed shooting star in the daily chart and potential reversal Zone is around 1.1740 (Aug 2015 high). Any break above will take the pair till 1.1745/1.18000.
On the lower side, minor support is around 1.1589 (7- day MA) and any break below will drag the pair down till 1.1538 (200- H MA)/1.1480.
It is good to sell on rallies around 1.16525-1.16550 with SL around 1.17140 for the TP of 1.15300/1.1480.
EUR/USD formed major top around 1.17120 yesterday and showing a minor decline from that level. The pair declined till 1.16128 at the time of writing. It is currently trading around 1.16465.
The pair has formed shooting star in the daily chart and potential reversal Zone is around 1.1740 (Aug 2015 high). Any break above will take the pair till 1.1745/1.18000.
On the lower side, minor support is around 1.1589 (7- day MA) and any break below will drag the pair down till 1.1538 (200- H MA)/1.1480.
It is good to sell on rallies around 1.16525-1.16550 with SL around 1.17140 for the TP of 1.15300/1.1480.