Friday, October 16, 2026

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FxWirePro: EUR/USD forms double bottom around 1.04900, good to buy on dips

Major intraday resistance -1.05200 (trend line joining 1.0630 and 1.05717) Major support – 1.04935 (double bottom) The pair has once again taken support near 1.04935 and jumped from that level. It is currently trading ar…

By FxWirePro Team
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FxWirePro: EUR/USD forms double bottom around 1.04900, good to buy on dips
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  • Major intraday resistance -1.05200 (trend line joining 1.0630 and 1.05717)
     
  • Major support – 1.04935 (double bottom)
     
  • The pair has once again taken support near 1.04935 and jumped from that level. It is currently trading around 1.05230.
     
  • Minor weakness can be seen only below 1.04900. On the lower side, any break below 1.04900 will drag the pair till 1.04500/1.03450.
     
  • On the higher side, any break above 1.0530 will take the pair till 1.0559 (200- H MA) /1.05717/1.06300 (Feb 28th high).

    It is good to buy on dips around 1.0520-230 with SL around 1.04900 for the TP of 1.0571/1.06300

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By FxWirePro Team