- EUR/USD is continuing its weakness for second consective week. The pair has broken 1.1900 level and declined till 1.18700 at the time of writing, freash 2018 lows. The pair is trading extremly weak and market eyes Fed Chairmaan speech in Zurich. US President Trump’s announcement on the Iran nuclear deal at 18:00 GMT is very important for further movenment.
- US dollar index has shown a minor jump above 55- W EMA for thre first time since May 2017.Any convincing close above 93 (55- W EMA) will take the index till 94/94.75.
- On the lower side, near term support stands at 1.1845 and any breka below targets 1.1800/1.17120 (38.2% fibo)/1.1600.
It is good to sell on rallies around 1.1900-905 with SL around 1.2000 for the TP of 1.1800/1.1715.
Resistance
R1- 1.1960
R2 -1.2020
R3- 1.2075
Support
S1-1.1845
S2-1.1800
S3- 1.1715
