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Long

EUR/USD trades higher on dovish FOMC Minutes,good to buy at dips

FX:EURUSD   Euro Fx/U.S. Dollar
317 0 10
Major resistance – 1.14380

Major support - 1. 1320             (55 day 4H EMA)

The pair has recovered from the low of 1.13266 after dovish FOMC minutes . EUR/USD             jumped till 1.14319 and closed near to 1. 1400             level.

US Mar FOMC Minutes confirms that Fed funds rate will be steady in the near term with further tightening likely to be delayed until 2016 end.

The pair’s major resistance is around 1.14380 and nay break above confirms minor trend reversal, a jump till 1.1500/1.1545 is possible .

On the lower side minor support is around 1.1380 and break below targets 1.1320/1.1280/1.1250.

Minor trend reversal only below 1. 1320             .

It is good to buy at dips around 1.1390-95 with SL around 1. 1320             for the TP of 1.1500/1.1545
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