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EUR/USD faces strong support at 1.1100, break below targets 1.1000

EUR/USD has declined sharply after a slight jump till 1.1205 due to softer than expected US NFP data. The pair breaks below the major trend line support and declined slightly from that level. Any close below 1.1100 will …

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EUR/USD faces strong support at 1.1100, break below targets 1.1000
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  • EUR/USD has declined sharply after a slight jump till 1.1205 due to softer than expected US NFP data. The pair breaks below the major trend line support and declined slightly from that level.
     
  • Any close below 1.1100 will drag the pair down till 1.1045/1.100.
     
  • The trend line joining May, Aug and Sep high comes around 1.1250 and any short term bullishness can be seen above that level.
     
  • Any break above trend line resistance will take the pair to next level till 1.1300/1.13660 in the short term.
     
  • On the lower side, any break below 1.11000 (trend line joining 1.0510 and 1.09115) will drag the pair to lower level till 1.1000/1.0950/1.0910 in the short term.

It is good to sell on rallies around 1.1150 with SL around 1.1210 for the TP of 1.1045/1.1000

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