FxWirePro: EOS/USD downside capped by 23.6% fibo, good to buy on dips

• EOS/USD has shown a minor 17% profit booking after a jumping more than 50% in previous week after hitting low of 7.80 level. The pair has broken major resistance $15.75 high made 4 months before and jumped till $16.17.It has recovered more than 300% from temporary bottom of $3.8700 and is currently trading around $14.20.
   
• The pair is trading well above short term (20&50 day) and long term MA (100&200) and has closed well above that level.
   
• The near term resistance is around $16.20 and any break above will take the pair to next level $17.78 (161.8% fibo)/$18.67 (Jan 13th 2018 high).
   
• The major support is around $13.20 (23.6% fibo) and any break below will drag the pair till $12.10 (5- day MA)/$10.42 (10- day MA)/.$7.88. Major weakness only below $3.87.

It is good to buy on dips around $12 with SL around $9.88 for the TP of $16.20/$18.67.