Intraday trend – Bullish
Major intraday resistance– 1.140
The pair regained above 1.1350 on easing geopolitical tension. Investors expect a diplomatic agreement between Russia and Ukraine after Blinken and Lavrov's meeting next week. EURUSD hits an intraday high of 1.13714 and is currently trading around 1.13695.
The number of people who have filed for unemployment benefits rose to 248000 the previous week compared to a forecast of 217000. Philly fed manufacturing index dropped to 16.6 in Feb vs. an estimate of 19.90.
Technical-
Any breach below 1.1320 confirms intraday bearishness. A dip till 1.1300/1.1230 is possible.
The immediate resistance to be watched is 1.1400; any violation above will take the pair to 1.1435/1.150/ 1.1580/1.1700.
Indicators (4-hour)
Directional movement index –Neutral
CCI (50) – Bearish
It is good to buy on dips around 1.1348-50 with SL around 1.1300 for a TP of 1.150.
