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

RES4:1.11532 (Feb 3rd high) RES3: 1.1427 (161.8% retracement of 1.12889 and 1.1065) RES2: 1.1400 RES 1: 1.13689 (May 6th high) PRICE: 1.1305@ 11:54 GMT SUP 1: 1.1290 (Resistance turned into support) SUP2: 1.1250 (55 day …

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  • RES4:1.11532 (Feb 3rd high)

  • RES3: 1.1427 (161.8% retracement of 1.12889 and 1.1065)

  • RES2: 1.1400

  • RES 1: 1.13689 (May 6th high)

  PRICE: 1.1305@ 11:54 GMT 

  • SUP 1: 1.1290 (Resistance turned into support)

  • SUP2: 1.1250 (55 day H EMA)

  • SUP 2: 1.1194 (Cloud top)

  • SUP 3: 1.1150

Commentary:

EUR/USD has retreated after making a high of 1.1390 trend is still bullish as long as short term support 1.1195  holds.

The minor support is around 1.1290 and break below will target 1.1250/1.1195.

It is good to buy at dips around 1.1290 with stop around 1.1250 for the target of 1.139/1.1500.

 

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