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EURUSD Technical Overview ahead of FOMC

EURUSD Technical Overview ahead of FOMC

We have published a trade setup based on a Bearish Gartley pattern and the trade reached the first target level.

EURUSD Bearish Gartley

The bullish moves are getting rejected by stiff short-selling from critical levels. Looking at the Four Hours chart, the pair is just above EMA 50 and being traded in the upper channel of the Bollinger Bands.

1.15000 physiological resistance has been tested yesterday. However, the sell orders started to work there.

1.14100 is the key support level and the Euro Bulls is trying the keep the pair above the dead zone.

The bearish pressure will remain as long as the pair holds below 1.15000 – 1.15300.

A clear break below 1.14100 will trigger the bearish move.

Intraday Key Levels:

Upside: 1.14400 1.14700 1.15100

Downside: 1.14100 1.13800 1.13500

A clear break below 1.14100 will carry the pair 1.13500 MM 4/8 Resistance.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

EURUSD  : Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

 

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