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EUR/USD breaks major resistance at 1.13855, weakness only below 1.1320

RES 4 :1.14980 (Feb 5th high) RES 3:1.14656 (May 15th high) RES 2: 1.14450 (May 14th high) RES 1: 1.13855 (Jun 10th high) PRICE: 1.14061 @ 11:23 GMT SUP 1: 1.1340 (200 day HMA) SUP 2: 1.1284 (55 day 4 HEMA) SUP 3: 1.1264…

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  • RES 4 :1.14980 (Feb 5th high)

  • RES 3:1.14656 (May 15th high)

     
  • RES 2: 1.14450 (May 14th high)

  • RES 1: 1.13855 (Jun 10th high)

  PRICE: 1.14061 @ 11:23 GMT 

  • SUP 1: 1.1340 (200 day HMA)

  • SUP 2: 1.1284 (55 day 4 HEMA)

  • SUP 3: 1.1264 (200 day HMA)

  • SUP: 1.1200 (Jun 5th low)

Commentary:

EUR/USD has broken major resistance 1.1385 which confirms short term bullishness ,a jump till 1.1440/1.1465 is possible .

On the downside minor support is around 1.1320 and any break below  will drag the pair further down till 1.1275/1.1200 level.

Overall trend reversal only below 1.11780.

The pair was rejected at 1.13840 on June 10th and break out above the level will take the apir till 1.4450/1.4650.

It is good to buy at dips around 1.1380 with SL around 1.1340 for the TP of 1.1450/1.1465

 

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