EURUSD Analysis by @moneyandcharts

The analysis reviews Citigroup which is in a bullish phase after a head and shoulders bottom formed in November. Citigroup closed above the 20-day SMA, with a target of 97.49. The Dollar Index is analyzed and is undergoing a corrective rebound which has ended and a bearish resumption phase is underway with target at 96.22. EURUSD is reviewed with initial falling to 1.1064 short of the 1.0955 expected, but after closing above the 20-day SMA, the bullish resumption phase has begun, the textbook target for EURUSD is 1.1717. A new coverage begins with Alibaba forming cup and handle top which is a bearish signal with support at 95.70. Also Merck & Co appears to be forming a falling wedge a bullish pattern with a breakout above the resistance trendline to complete with a textbook target at 96.78, with RSI showing momentum divergence.