Euro / U.S. DollarShort
EURUSD hits intraday highs at 1.1381 levels
EURUSD had managed to hit intraday highs around 1.1381 levels just a few minutes back. It might not be the time to go long yet looking at bearish divergence on the RSI. Also, US Dollar Index is still holding above 96.27 lows, yet another divergence. A sharp reversal could be in the making and potentially push EURO below 1.1330 levels. Alternately, if bulls manage to push through 1.1420 interim resistance, it would be a sign of further bullish potential towards 1.1500. Probabilities remain for a bearish reversal here.
Potential Trade Setup:
Short @ 1.1375/80
Stop @ 1.1430
Target @ 1.1330 (intraday), 1.1000 (few trading sessions).
Potential Trade Setup:
Short @ 1.1375/80
Stop @ 1.1430
Target @ 1.1330 (intraday), 1.1000 (few trading sessions).
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