Forex Technical Analysis - RCPL Forex

Euro: Euro was unable to sustain at 1.49 levels and was sent 145 pips lower in Friday’s session. Early this morning the currency marked a low of 1.4696. The daily chart is turning mid-way to indicate selling pressure while the hourly & 4-hourly shows slight upside. Immediate resistance comes in at 1.4857 (55 4-hourly EMA) where shorts could be considered. On the downside 1.45 constitutes an important support and going long there could be estimated. (Eur/Usd: 1.4724).


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