FxWirePro: EUR/USD lacks direction ahead of Jackson Hole, good to stay away
EUR/USD has trimmed its gain made yesterday. The pair jumped till 1.18284 yesterday and is currently trading around 1.17704. Markets are lacking clear direction ahead of Jackson Hole symposium which is to be started on T…
EUR/USD has trimmed its gain made yesterday. The pair jumped till 1.18284 yesterday and is currently trading around 1.17704.
Markets are lacking clear direction ahead of Jackson Hole symposium which is to be started on Thursday.
On the lower side, near term support is around 1.16575 (23.6% retracement of 1.08930 and 1.19103) and any break below will drag the pair till 1.15985/1.1500. The minor support is around 1.1750/1.1680.
The near term resistance is around 1.1850 and any break above will take the pair till 1.19103 (Aug 8th 2017)/1.19391 (1.13% retracement of 1.19103 and 1.16880)/1.1200.
It is good to buy on dips around 1.17000 with SL around 1.16500 for the TP of 1.1830
