FxWirePro: EUR/USD hits 6- month high, good to buy on dips
EURUSD hits fresh six – month high of 1.1284 on Friday on account of weaker than expected U.S Nonfarm payroll. U.S economy has added 138K in May compared to forecast of 174K and unemployment rate at 16- year low at 4.3%.…
EURUSD hits fresh six – month high of 1.1284 on Friday on account of weaker than expected U.S Nonfarm payroll. U.S economy has added 138K in May compared to forecast of 174K and unemployment rate at 16- year low at 4.3%.
The pair is still bullish as long as minor support 1.1197 (daily Tenkan-Sen) holds. Any break below will drag the pair down till 1.1160/1.1100 (May 30th low). Market awaits U.S ISM Non-manufacturing data to be released for the further direction.
The near term major resistance is around 1.1300 and any break above will take the pair till 1.13660/1.14300.
Short term bullish invalidation only below 1.05695.
It is good to buy on dips around 1.1240 with SL 1.1180 for the TP of 1.1300/1.13600.
