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- EUR/USD jumped almost 60 pips from the low of 1.17372. The pair was trading weak in previous week on US tax bill. The Euro recovered its losses in the European session and is currently trading around 1.17915.
- The house and senate to vote on US tax bill this week. U.S republicans are confident that tax bill will be passed this week and will become law bill. Eurozone November inflation came at 1.5% y/y vs 1.5% estimate.
- Technically, the pair is facing strong resistance at 1.1820 (20- day MA) and any minor bullishness can be seen only above that level. Any convincing break above 1.1820 will take the pair to next level till 1.18620/1.1900/19612 (Nov 27th 2017 high).
- On the lower side, major support is around 1.1700 and any break below will drag the pair to next level till 1.1660/1.1600. The minor support is around 1.1755.
It is good to buy on dips around 1.1765 with SL around 1.1700 for the TP of 1.1900/1.19250.
