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Short

EURUSD: Sell on rallies

FX:EURUSD   Euro / US-Dollar
510 0 17
Major intraday support – 1.07890 (hourly Kijun-Sen)

EUR/USD             was consolidating narrow range for past 17 hours after hitting high of 1.08193 yesterday. The high formed at 1.08288 on Feb 2nd 2017 is acting as short term resistance and any break above will confirms bullish continuation.

Any break above 1.08288 will take the pair till 1.08735 in the short term. The pair should close above 1.08735 for bearish invalidation.

On the lower side, any break below 1.07890 will drag the pair till 1.07493 ( 61.8% retracement of 1.0706 and 1.08193)/1.07189 (Mar 20th low).

It is good to sell on rallies around 1.0785-1.07900 with SL around 1.0830 for the TP of 1.07200/1.07060.
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