FxWirePro:EUR/USD forms bullish MA crossover, jump till 1.1300 likely
EUR/USD formed a bottom around 1.11320 and jumped slightly from that level. It has broken minor resistance of 1.1200 and jumped till 1.12077. The pair is currently trading around 1.11791. In the daily chart the pair has …
EUR/USD formed a bottom around 1.11320 and jumped slightly from that level. It has broken minor resistance of 1.1200 and jumped till 1.12077. The pair is currently trading around 1.11791.
In the daily chart the pair has formed bullish crossover (100 MA crossing 200 MA) and confirms minor bullishness. Minor weakness can be seen only below 1.11000 level.
On the higher side, major resistance is around 1.1300 and any break above confirms bullish continuation. Any break of 1.1300 will take the pair to next level till 1.1360/1.1435 in the short term.
The near term major support is around 1.1100 and any break above will take the pair down till 1.1050/1.1000.
It is good to buy on dips around 1.1180 with SL around 1.1100 for the TP of 1.1300/1.13600.
