Forex Technical Analysis - RCPL Forex

Euro: Euro surged 130 pips from yesterday’s low of 1.4731 as USD came under pressure. The hourly stochastic is showing a smooth upside while the 4-hourly is overbought. Euro is trading close to the resistance of 1.4886 (55 4-hourly EMA) and decisive break of this level can take Euro to 1.5020 (38.2% Retracement and 100 4-hourly EMA). Opportunities to initiate shorts could be considered at those levels. (Eur/Usd: 1.4872).


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