Technical analysis of EUR/USD for February 19, 2014

In the hourly chart, EUR/USD is trading at 1.3760. RSI gives an overbought indication. Prices are holding above the 21 and 40 DEMA that is a bull factor. If the price breaks 1.3742, weakness persists in the intraday trading session towards downside. We can expect the selling pressure to start soon.

R1 1.3813

R2 1.3820

Recommendation-

1- Sell below 1.3742 target 1.3720 and 1.3695.

2- If any rise happens, sell at 1.3813 and 1.3820.

If the price breaks 1.3695, next support comes at 1.3620 and 1.3585.