FxWirePro: EUR/USD trades slightly below 10- day MA, decline till 1.1050 likely
Major support – 1.1160 (May 22nd 2017 low). EURO broken the major support of 1.1160 and declined sharply from that level on rising concerns over Greece bail out and early Italian elections .Technically the pair is tradin…
EURO broken the major support of 1.1160 and declined sharply from that level on rising concerns over Greece bail out and early Italian elections .Technically the pair is trading weak and is struggling to break above 1.12678 confirms minor weakness and any further bullishness can be seen above 1.12678.Any violation above will take the pair to next level till 1.1300 Nov 2016 high/1.13660.
Minor resistance is around 1.1185 (200- H MA) and any break above will take pair till 1.1245/1.12678.
On the lower side, any break below 1.1100 (23.6% retracement of 1.105694 and 1.12678) will drag the pair down till 1.1050/1.1000.
It is good to sell on rallies around 1.1165-1.1170 with SL around 1.1245 for the TP of 1.1100/1.1050.
