FxWirePro: EUR/USD trades slightly higher, market eyes ECB for further direction
EUR/USD has shown a huge recovery after hitting trend line support at 1.18683 yesterday. The pair is waiting for ECB meeting which is to be held on Sep 7th for further direction. It has broken resistance 1.19796 high mad…
EUR/USD has shown a huge recovery after hitting trend line support at 1.18683 yesterday. The pair is waiting for ECB meeting which is to be held on Sep 7th for further direction. It has broken resistance 1.19796 high made after U.S Nonfarm payroll. It is currently trading around 1.19842.
On the lower side, near term intraday support is around 1.1928 (34- H EMA) 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 1.200/1.2030/1.2070 (Aug 29th 2017 high).
It is good to sell on rallies around 1.2035-40 with SL around 1.2070 for the TP of 1.18230/1.1780.
