FxWirePro: EUR/USD trades slightly above 1.08735, jump till 1.09780 likely
EUR/USD made a high of 1.0918 yesterday but failed to close above 1.08735 (Aug 8th high). Market attention now turn towards US tax reform plans announcement due tomorrow. It is currently trading around 1.08942. The suppl…
EUR/USD made a high of 1.0918 yesterday but failed to close above 1.08735 (Aug 8th high). Market attention now turn towards US tax reform plans announcement due tomorrow. It is currently trading around 1.08942.
The supply zone is at 1.09058 (Mar 27th high) and any violation above will take the pair till 1.09329 (61.8% retracement of 1.1299 and 1.03400)/1.09785 (50% retracement of 1.16163 and 1.03400).On the lower side, major support stands at 1.0840 (200- day MA) and decline below targets 1.07800/1.07500.
Minor trend reversal only below 1.0700 (100- day EMA).
It is good to buy on dips around 1.0890-1.08925 with SL around 1.0840 with TP of 1.09780/1.1000.
