|EUR/USD Technical - 16/Feb|
EURUSD sustain on trend line on 4 hour chart, break of 1.3540 strong resistance then further going up side to 1.3621. EURUSD is forming channel in range, still in progress, break of 1.3442 daily support further going down side to 1.3401 (127.2%),(161.8%) extension from 1.3507 to 1.3860 and break of 1.3540 further going up side to test 1.3621 trend line on intraday. Also Fib No. 61.8% at 1.3621 from 1.3743 to 1.3427, forming counter ABCD pattern in big range from 1.3241 to 1.3860,Fib No. 61.8% at 1.3497 and give buy signal here, but price on uptrend line. At this time another chance to fall is still in favor with 1.3401 daily support.
Strategy: Sell from resistance with stop loss 1.3668
Range: 1.3531 to 1.3441