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EURUSD: Rejection from Trendline & 200 EMA | January 5, 2017



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EURUSD has rejected from downward trend line and 200 Exponential Moving Average (EMA) . Now this pair starts bearish rally again towards its support level. In H4 time frame, we can see bearish engulfing which indicates its sell pressure.

1.0450 level can be near term support for this pair. This pair needs to break this level for further downside movement. Major support lies on 1.0380 level which will be critical for this pair for long term fall towards 1.0000 round level.


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