The spot is working hard at the trend line resistance on 1-hr chart, amid a bearish crossover between 50-MA & 100-MA. A potential head and shoulders pattern with neckline supp at 1.1368 is seen… On the daily, the spot trades below rising trend line… which now will offer resistance at 1.1444. Yday’s move confirmed bearish RSI divergence, plus daily macd is turning bearish. It’s good to sell the spot below the daily low of 1.1391. The move would add credence to rejection at falling trend line on 1-hr and push the spot lower to neckline supp of 1.1368.

Key Tech Levels – Spot 1.1418

1.1444 (trend line hurdle)

1.1456 (resistance on 1-hr)

1.1490 (July 12 high)

1.1397 (1-hr 200-MA)

1.1368 (neckline supp)

1.1312 (last week’s low)

1-hour chart

EURUSD H1 (07-14-2017 1734).png


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