FxWirePro: EUR/USD trades above 1.2400, good to buy on dips
EUR/USD gained sharply almost more than 50 pips in today’s session and hits high of 1.24168.The pair has formed minor bottom around 1.22398 and recovered sharply from that level on US- China trade war.US President Trump …
EUR/USD gained sharply almost more than 50 pips in today’s session and hits high of 1.24168.The pair has formed minor bottom around 1.22398 and recovered sharply from that level on US- China trade war.US President Trump announced new tariffs targeting China. It is currently trading around 1.24145.
The pair has showing a good buying interest at lower levels and any minor weakness only below 1.2250.EUR/USD broken major trend line resistance at 1.23600 and is trading well above that level. Any break above 1.24460 will take the pair till 1.2500/1.2558. Bullish continuation can be seen above 1.2558.
On the lower side, near term support is around 1.23760 (23.6% fibo) and any violation below will drag the pair to next level till 1.2350/1.23150 (20- day MA).
It is good to buy on dips around 1.23750 with SL around 1.2345 for the TP of 1.2445/1.2500.
