EUR/USD:Strong EUR after the CPI news. Resistance area SHORT

Yesterday the US CPI fundamental news was released, the data was lower than the Consensus forecast so we have seen The EURO had a long Bullish candle of almost 120 pips, followed by a Doji rejection candle in H4 and 3 Bearish candles. This strong "spike" for EUR, looking at the Technical analysis, touched the Previous resistance area Around 1.0350 and 1.0400 in confluence with the 50% Fibo level at 1.037 where the Bullish candle had the previously talked rejection. Technically talking, the release of yesterdays news doesn't change our general Vision of the price, today the market opens with a bullish impulse in H4 by the EURO but looking at the chart we can see clearly all the clues are on the Bearish side for the EURO. The stochastic in D1 it's almost in the Overbought area meanwhile the RSI turned on a Bullish side. The price could be retested again in all these areas of resistance before finally dropping down in direction of the main trend. Let's look, the price had the rejection on the 50 Moving average, this last one still working like strong resistance for the price.

Kommentera:

Handel aktiv: