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FxWirePro: EURUSD forms Ascending Triangle pattern, any break above 1.1500 confirms minor trend reversal

Wednesday, January 2, 2019 7:47 AM UTC

Major resistance-1.1500

EUR/USD trades higher and jumped more than 50 pips for the day .The decline in US 10 year yield and slight dovish Fed policy is supporting Euro. The pair hits high of 1.14969 and is currently trading around 1.14830.

The spread between Italy and German yield has been reduced from 330 basis point to 255 basis point.

On the higher side, near term resistance is around 1.1500 and any break above targets 1.1555/1.16217/1.17335.

The near term support is around 1.1430 and any violation below will drag the pair till 1.1400/1.1340/1.1300.Any weakness only below 1.12700.

It is good to buy above 1.15000 with SL around 1.14300 for the TP of 1.16200/1.17335.

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FxWirePro: EURUSD forms Ascending Triangle pattern, any break above 1.1500 confirms minor trend reversal

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