FxWirePro: EUR/USD hits fresh 27- month high at 1.20700 level, good to buy on dips
EURUSD hits 1.2070 fresh 27 month high and is hovering around this level. The pair is trading higher after dovish statement by Janet Yellen in Jackson Hole symposium. The pair gained second session in a row jumped almost…
EURUSD hits 1.2070 fresh 27 month high and is hovering around this level. The pair is trading higher after dovish statement by Janet Yellen in Jackson Hole symposium.
The pair gained second session in a row jumped almost 17% since Jan low of 1.03400. US 10 year yield hits 2.10% level lowest since Nov 2016.
On the higher side, any break above 1.200 confirms major trend reversal, a jump till 1.2100 (psychological level)/1.2186 (Dec 25th 2017 high)/1.2500. The near term resistance is around 1.20705.
The near term support is around 1.19169 (Aug 28th low) and nay break below will drag the pair down till 1.18550 (5 day MA)/1.1805 (10- day MA)/1.17780 (21- day EMA).
In the daily chart RSI and MACD shows over bought and a slight dip is possible which can be used as best buying opportunities.
It is good to buy on dips around 1.19100 with SL around 1.1800 for the TP of 1.1207/1.2100/1.2185.
