EUR/USD continuing its bullishness for the second consecutive days. The pair broken psychological level of 1.2300 and jumped till 1.23250 at the time of writing. The pair jumps from the fresh 2- week low after a good rec…
EUR/USD continuing its bullishness for the second consecutive days. The pair broken psychological level of 1.2300 and jumped till 1.23250 at the time of writing. The pair jumps from the fresh 2- week low after a good recovery in US stock market. It is currently trading around 1.2320.
The economic calendar for Euro remains empty and major release US CPI and retail sales is on Wednesday. Market further drastic movement is possible after the data.
The pair is facing near term resistance of 1.2330 (20- day MA) and any close above will take the pair till 1.2400/1.24350. Bullish continuation can be seen only above 1.2540.
On the lower side, near term support is around 1.2275 (100- H MA) and any violation below will drag the pair to next level till 1.21650 (38.2% fibo)/1.2100. Minor trend reversal only below 1.2100.
It is good to buy above 1.2330 with SL around 1.2275 for the TP of 1.2435/1.2500.
