EURUSD- AB=CD Pattern (Buy on dips)
Chart pattern- AB=CD pattern.
EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10222.
According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago.
The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch- 1.10231/1.10385/1.10554/1.10667. Bullish continuation only above 1.12050.
Major support- 1.09880,1.09420
It is good to buy on dips around 1.0978-80 with SL around 1.0930 for a TP of 1.1148.
EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10222.
According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago.
The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch- 1.10231/1.10385/1.10554/1.10667. Bullish continuation only above 1.12050.
Major support- 1.09880,1.09420
It is good to buy on dips around 1.0978-80 with SL around 1.0930 for a TP of 1.1148.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.