FxWirePro: EUR/USD struggle to close below trend line, good to buy on dips
Major support – 1.06300 (trend line joining 1.04948 and 1.05250). Major intraday resistance – 1.0706 (21- day EMA). EUR/USD has recovered slightly after hitting low of 1.06297. Short term bias is on the downside and mino…
Major support – 1.06300 (trend line joining 1.04948 and 1.05250).
Major intraday resistance – 1.0706 (21- day EMA).
EUR/USD has recovered slightly after hitting low of 1.06297. Short term bias is on the downside and minor reversal can happen above 1.07060.
On the lower side, any close below trend line support at 1.06300 will drag the pair till 1.0600/1.05250 (Mar 9th 2017 low)/1.04940 (Mar 2nd low).
The near term resistance is around 1.0702 (21- day EMA) and any break above will take the pair to next level till 1.07450/1.07800. Short term bearish invalidation only above 1.09058.
It is good to buy on dips around 1.0650 with SL around 1.0600 for the TP of 1.0706/1.0745.
