EUR/USD has pared some of its gains in today’s European session and jumped almost 45 pips from the intraday low of 1.23240. The pair declined sharply in previous week high on account of more dovish ECB minutes meeting. I…
EUR/USD has pared some of its gains in today’s European session and jumped almost 45 pips from the intraday low of 1.23240. The pair declined sharply in previous week high on account of more dovish ECB minutes meeting. It hits high of 1.23686 and is currently trading around 1.23635.
Market eyes US retail sales data which is to be released today for further direction. The pair is facing minor near term support is around 1.2300 and any break below will drag the pair down till 1.2260/1.2200. Overall bearish continuation below 1.2165.
On the higher side, near term resistance is around 1.2400 and any convincing break above will take the pair to next level till 1.24450 (Mar 7th 2018 high)/1.2470.Major bullishness only above 1.2550.
It is good to buy on dips around 1.2340-45 with SL around 1.2290 for the TP of 1.2445/1.24700.
