FxWirePro:EUR/USD breaks above 1.1020, jump till 1.1135 likely
Tuesday, May 16, 2017 7:19 AM UTC
- EURUSD continues its winning streak and broken major psychological resistance at 1.1000 jumped till 1.10167 at the time of writing. It is currently trading around 1.10200.
- Any break above 1.10200 high made immediately after French President election result will confirm the decline from 1.1616 till 1.03400 will come to an end , a jump till 1.1080 zone /1.11345 (61.8% retracement of 1.1630 and 1.03400).
- The near term intraday support stands at 1.0950 and any violation below will confirm minor weakness, a decline till 1.0900/1.08500 is possible. The pair should close below 200- day MA for further bearishness.
It is good to buy on dips around 1.101 with SL around 1.09700 for the TP of 1.1080/1.1130.