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EUR/USD is trading well above ichimoku cloud, jump till 1.1530 is possible

RES4:1.15336 (Feb 3rd high) RES3: 1.1450 (Feb 19th high) RES2: 1.1352 (161.8% retracement of 1.10345 and 1.05192) RES 1:1.12477 (Apr 30th High) PRICE: 1.1252@ 10:38 GMT SUP 1: 1.1180 SUP2: 1.1177 (Tenken-Sen) SUP 2: 1.10…

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  • RES4:1.15336 (Feb 3rd high)

  • RES3: 1.1450 (Feb 19th high)

  • RES2: 1.1352 (161.8% retracement of 1.10345 and 1.05192)

  • RES 1:1.12477 (Apr 30th High)

  PRICE: 1.1252@ 10:38 GMT 

  • SUP 1: 1.1180

  • SUP2: 1.1177 (Tenken-Sen)

  • SUP 2: 1.1092 (20 day 4HMA)

  • SUP 3: 1.107 (Trend line resistance turned into Support)

Commentary:

EUR/USD has broken major resistance 1.1245 and this confirms short term bullishness, a jump till 1.1530 cannot be ruled out. Intraday trend reversal can happen only below 1.1180.

Any break below 1.1180 will take the pair down till 1.1177/1. trend reversal only below 1.107.

It is good to buy around 1.1250 with stop around 1.1180 for the target of 1.1530.

 

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