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.
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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