EURUSD trades above 1.1300 on board-based US dollar selling. It hits a high of 1.11333 at the time of writing and is currently trading around 1.11322.
Markets anticipate a 50 bpbs rate cut by Fed this Wednesday.
The pair trades above short-term (34 AND 55 EMA) in a 4-hour chart. Major resistance to watch- 1.11554/1.1168/1.1200. Bullish continuation only above 1.12050.
Major support- 1.1100,1.1060/1.100/1.09880.
Indicators ( 4- hour chart)
Directional movement index -Bullish
CCI (50)- Bullish
CCI(14)- Bullish
It is good to buy on dips around 1.1065 with SL around 1.1060 for a TP of 1.11500.
