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Long

EURUSD : Buy above 1.11250

FX:EURUSD   Euro Fx/U.S. Dollar
220 0 8
Major resistance – 1.11260 (50 –day MA)

Major support – 1.10550 (daily Kijun-Sen)

EUR/USD             declined till 1.10596 yesterday and slightly recovered from that level. It is currently trading around 1.10977.

The pair’s upside capped by 50 –day SMA and any further bullishness above that level. Any violation above 50- day SMA will take the pair till 1.1177 (200 – day MA)/1.1200.

Market awaits U.S nonfarm payroll data which is to be released today for further directions. Any positive figure will have a minor reaction on USD as long as uncertainties in elections.

On the lower side,any break below 1.1055 will drag the pair down till 1.100/1.0965 (10-day MA).

It is good to buy above 1.11250 with SL around 1.1050 for the TP of 1.120/1.1250.
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