Eur/Usd : 02/03/2015
Our Preference: Sell positions below 1.1250 with stoploss of 1.1350 and target 1.1150 & 1.1100 in extension
Alternative Scenario: Nill
Technical Commentary: In Weekly chart,Eur/Usd was closed below last 3 week low, broken weekly key support level line now its trading below last 3 weeks low So its confirming that next move will try to test yearly low and last month low @ 1.1100 :- We have shown in image.
In Daily chart ,Eur/Usd was closed below lower trend line and its broken major key support level and its confirming that euro was on the side of selling volume so we can sell near key resistance level 1.1260 and we can exit upto 1.1100 which is the support level of yearly low.
In 4 hours chart,Eur/Usd was going to test intraday key resistance level 1.1260 and its forming double top , so we can sell near @ 1.1270 Level.
In 1 hour chart, Eur/Usd was trading equidistant channel line and its broken lower trend line and trading near key support level, so we can go on selling side near resistance levels.