EUR/USD on Friday made an intra‐day low of US$1.1129/EUR and made an intraday high of US$1.1219/EUR and settled the day down by 0.366% at US$1.1161/EUR on session close, noted the Option Banque’s technical team.
Technicals in Focus:
On daily charts, prices are sustaining below 100DMA (1.1049), which become immediate resistance level, break above will target 1.1080-1.1130. MACD is now above zero line and giving a buy signal. Stochastic is in oversold territory and giving negative crossovers to signal for bearish outlook for intraday.
Trading Strategy: Neutral to Sell
Based on the charts and explanations above; sell below 1.1050 targeting 1.0850-1.0520 with stop-loss at hour closing above 1.1050. Buy above 1.0850-1.0520 with risk below 1.0500 targeting 1.1050-1.1130.