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EUR/USD Rebounds Above 1.1250 Ahead of Fed Minutes: Technicals Eye Buy-on-Dips Target at 1.1365

EURUSD gained above 1.12500 as the market awaits the Fed minutes. It hit a low of 1.11609 the previous week and is currently trading around 1.12635.

 

Technicals

CMP -1.12679

Trend

1-hour chart

Value

 

 

55 EMA

1.12363

CMP>value

Bullish

200- EMA

1.13055

CMP<value

Bearish

365- EMA

1.13681

CMP<value

Bearish

800-EMA

1.14484

CMP<value

Bearish

 

Major support-1.11500/1.1000/1.10 Near-term resistance-1.1265/1.1300/1.1365/1.1400/1.1435/1.1500.

 

Momentum indicator

Inference

Value

CCI(50)

Bullish

81.28

ADX

Bullish

Strength increased from 21.02 to 22.49

 

It is good to buy on dips around 1.1248-50 with SL around 1.1200 or a TP of 1.1365.

 

 

 

 

 

 

 

 

 

 

 

 

 

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