- EUR/USD has made a high of 1.1289 and retreated till 1.10650 from that level. The pair’s short term support is around 1.1050 (resistance turned into support).
- The break below 1.1050 will drag the pair further down till 1.100/1.0910 (55 day MA). Overall bullish invalidation can happen only below 1.0910 level.
- The major resistance is around 1.1300 (23.6% retracement of 1.39927 and 1.04685) and further bullishness can be seen above that level. The break of 1.1300 will target 1.15327(Feb 3rd high).
It is good to buy at dips around 1.1055 with stop around 1.0910 for the target of 1.1285
The material has been provided by InstaForex Company – www.instaforex.com