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EUR/USD retreats from higher levels, good to buy at dips

  • RES4:1.11532 (Feb 3rd high)

  • RES3: 1.13000 (23.6% retracement of 1.39927 and 1.04685)

  • RES2: 1.12889 (May 1st high)

  • RES 1: 1.12700 (Today's high)

  PRICE: 1.1222@ 11:56 GMT 

  • SUP 1: 1.1200 (20 day HMA)

  • SUP2: 1.118 (55 day H EMA)

  • SUP 2: 1.1116 (Cloud top)

  • SUP 3: 1.1064 (200 day HMA)

Commentary:

EUR/USD has recovered after making a low of 1.1065. Overall trend is still bullish as long as support 1.1065 holds.

Any break below 1.1070 will take the pair down till 1.096/1.050.

 It is good to buy around 1.1125 with stop around 1.1070 for the target of 1.1280.

 

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