EUR/USD has pared most of its gains and is trading below 1.1800. All G7 leader seemed to endorse a common communique. Canadian PM Justin Trudeau said in press conference that Canada would impose tariffs on US imported go…
EUR/USD has pared most of its gains and is trading below 1.1800. All G7 leader seemed to endorse a common communique. Canadian PM Justin Trudeau said in press conference that Canada would impose tariffs on US imported goods on Jul 1st 2018. Trump lashed out Canada’s PM in twitter saying that “very dishonest and weak” and also threatened to impose tariffs on automobile. The next major event is between Donald Trump and Kim Jung Un is to be held tomorrow. The pair hits intraday low of 1.17751 and is currently trading around 1.17936.
On the higher side, near term major intraday resistance is around 1.1850 and any convincing break above will take the pair to next level till 1.1900/1.2000 .Short term bearish invalidation only above 1.2020 (200- day MA).
The near term major support is at 1.1660 and any convincing break below will drag the pair to next level till 1.1600/1.1500. The minor support is around 1.1790/1.1750.
It is good to sell on rallies around 1.1800 with SL around 1.1850 for the TP of 1.1660/1.1600.
