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FxWirePro: EUR/USD trade idea

Thursday, December 1, 2016 12:48 PM UTC

Major intraday support – 1.0560

Major resistance- 1.06855 (Nov 28th 2016 high)

EUR/USD edged lower yesterday after OPEC agreed to cut oil production to 32.5 million barrels per day from the previous 33.7 million barrels per day.

The pair declined till 1.05527 and recovered sharply from that level. It is currently trading slightly above 1.060 level at 1.06195.

The intraday trend is slightly bullish as long as 1.05600 holds.

On the higher side, the major resistance is around 1.0685 and any violation above will take the pair to next level till 1.0755/1.08150.

Resistance

R1-1.06855

R2-1.0755

R3- 1.0816

Support

S1-1.0560

S2-1.0518

S3- 1.0470

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FxWirePro: EUR/USD trade idea

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