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EURRON: 1M Resistance rejection. Short opportunity.

Short
Euro / Romanian Leu (FOREXCOM:EURRON)  
InvestingScope  
FOREXCOM:EURRON   Euro / Romanian Leu
Trend Analysis Chart Patterns Technical Indicators EURRON EUR RON euro romanianleu Forex Currencies currency forexpairs
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trendanalysis chartpattern indicator eurron eur ron euro romanianleu forex currencies currency forexpairs
The pair is on a strong 1D uptrend since it found support in September on the 1D MA50 and is close to the overbought zone (RSI = 71.170). Yesterday it peaked at 75.000 which is where it was rejected on September 20th. Moreover yesterday's rejection took place on the 1M 4.7825 Resistance, which is holding since late January 2019. As a result we are expecting a strong pull back to the 4.7500 Symmetrical Support.






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