Forex Daily Technical Comments by RCPL Forex

Euro: Euro has made a strong comeback trading at 1.44 levels currently after dipping to a low of 1.4196 in Friday’s session. Immediate resistance comes in at 1.4461 levels, breaking which Euro can be pushed upto 1.4530 levels (55 - 4-Hourly EMA). Although the Daily chart is extremely oversold, the hourly and 4-hourly is moving towards overbought and opportunities to initiate shorts at 1.4520 levels can be considered. (Eur/Usd: 1.4403).

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