EURUSD breaks above 1.1020, jump till 1.1135 likely
EURUSD continues its winning streak and broken major psychological resistance at 1.1000 jumped till 1.10240 at the time of writing. It is currently trading around 1.10231.
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.
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.