EUR/USD Forms Shooting Star Pattern in Daily Chart, Targets 1.12750

EUR/USD Forms Shooting Star Pattern in Daily Chart, Targets 1.12750

4 May 2016, 12:33
Roberto Jacobs
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EUR/USD Forms Shooting Star Pattern in Daily Chart, Targets 1.12750

  • Pattern Formed –Shooting Star 
  • Potential Reversal Zone – 1.1600 
  • The pair has retreated after making a high of 1.16161 yesterday.It is currently trading around 1.14890. 
  • Short term trend is slightly bearish as long as resistance 1.16200 holds. 
  • On the higher side minor resistance is around 1.1550 and any indicative break above 1.155 will take the pair to next level till 1.1600/1.16200. 
  • EUR/USD short term support is around 1.1450 and break below targets 1.1370/1.13300/1.12700.

It is good ot sell on rallies around 1.1535-1.1540 with SL 1.1620 for the TP of 1.13700/1.1275.

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