EURUSD breaks major support at 1.05200, decline till 1.04530 likely
Major support - 1.05200 (Feb 15th low) Major resistance – 1.0678 (21- day MA) EUR/USD formed a temporary top around 1.06793 on Feb 16th 2017 after declining till 1.05212. The pair has broken the support at 1.05200 level …
EUR/USD formed a temporary top around 1.06793 on Feb 16th 2017 after declining till 1.05212. The pair has broken the support at 1.05200 level today European session and declined till 1.04972 level. It is currently trading around 1.05070.
On the higher side, next immediate resistance is around 1.05560 high made today and any break above will take the pair till 1.05800/1.0617 (10- day MA)/1.06790 (21- day MA).
The break below 1.05200 confirms major trend reversal, a decline till 1.04530 (Jan 11th 2017 low)/1.03450 (Jan 13th 2017 low).
It is good to sell on rallies around 1.05200 with SL around 1.05600 for the TP of 1.04535/1.03450
