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- EUR/USD declined sharply once again sharply after hitting 1.12837 level. It is currently trading around 1.12056.
- Market awaits super Thursday (UK elections, ECB meeting AND Former FBI chief Comey testimony).
- The pair declined well below 4H Tenkan-Sen and Kijun-Sen and further weakness can be seen below 1.1182 (89- 4H EMA). It should break below 1.1100 (May 30th 2017 low) for bearish continuation.
- Any break below 1.1200 will drag the pair down till 1.1170 (61.8% retracement of 1.11092 and 1.12851)1.1100.
- On the higher side, major resistance is around 1.1300 and further bullish continuation only above 1.13660/1.1430.
It is good to buy on dips around 1.1205 with SL around 1.1160 for the TP of 1.12990.
