FxWirePro: EUR/USD trades in narrow range, market eyes ECB for further direction
EUR/USD is consolidating in narrow range and shown a minor recovery after hitting trend line support yesterday. The pair is waiting for ECB meeting which is to be held on Sep 7th for further direction. It is currently tr…
EUR/USD is consolidating in narrow range and shown a minor recovery after hitting trend line support yesterday. The pair is waiting for ECB meeting which is to be held on Sep 7th for further direction. It is currently trading around 1.19265.
On the lower side, near term intraday support is around 1.1908 (55- H MA) and any break below will drag the pair down till 1.18670/1.18230 (Aug 31st low)/1.17750.
The near term resistance is at 1.19795 high made on Friday after US Non farm roll and any break above will take the pair till 1.200/1.2070 (Aug 29th 2017 high).
It is good to sell below 1.18750 with SL around 1.1930 for the TP of 1.18230/1.1780.
