EUR/USD has pared most of its gains and is trading below 1.1800. US Donald Trump and Kim historic first meeting happened today in Singapore. They both have signed a denuclearization deal and meeting ends in positive note…
EUR/USD has pared most of its gains and is trading below 1.1800. US Donald Trump and Kim historic first meeting happened today in Singapore. They both have signed a denuclearization deal and meeting ends in positive note. Markets eye US FOMC policy decision which is to be happened tomorrow. Fed is expected to hike 25 basis point and any hawkish statement will take the drag the pair. The pair hits intraday low of 1.17412 and is currently trading around 1.17895.
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.
