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EURUSD: Rejection from Resistance level | February 27, 2017



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Eurusd has rejected from resistance level from near term resistance zone at 1.0615. This pair is still below 200 and 100 ema on h4 time frame. So below this resistance and ema, we can look for sell for 30-100 pips target.
On h4 time frame, bearish engulfing pattern has been formed. It was big bearish candle which indicates big pressure of selling on this pair. So we should stay on sell mode below 1.0615 resistance level.
On daily chart, bearish rejection pin bar candle formed. It also indicates for sell on this pair.


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