EUR/USD surged above 1.1750 on easing trade tension. It hit an intraday low of 1.17604 and is currently trading around 1.117428. Overall trend remains bullish as long as support 1.1670 holds.
The pair is holding above the 55 EMA,above 200 EMA, and 365 EMA in the 1 -hour chart. Near-term resistance is seen at 1.1765, a break above this may push the pair to targets of 1.1800/1.1835/1.19090/1.1956/1.200. On the downside, support is seen at 1.1700; any violation below will drag the pair to 1.1670/1.1600/1.155.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bullish
Average Directional Movement Index (ADX) - Neutral
It is good to buy on dips around 1.1720 with a stop-loss at 1.1665 for a target price of 1.1835.
The pair is holding above the 55 EMA,above 200 EMA, and 365 EMA in the 1 -hour chart. Near-term resistance is seen at 1.1765, a break above this may push the pair to targets of 1.1800/1.1835/1.19090/1.1956/1.200. On the downside, support is seen at 1.1700; any violation below will drag the pair to 1.1670/1.1600/1.155.
Market Indicators and Trading Strategy
Commodity Channel Index (CCI)- Bullish
Average Directional Movement Index (ADX) - Neutral
It is good to buy on dips around 1.1720 with a stop-loss at 1.1665 for a target price of 1.1835.
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.
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.