EUR/USD faces strong support around 1.0850, good to buy at dips

FX:EURUSD   Euro / U.S. Dollar
1014 2 13
EUR/USD             has formed inverted hammer in 4 hours chart and this confirms short term bullishness , a jump till 1.100 cannot be ruled out.

The Pair was trading weak even if Greece risk subsides. ECB announced to raise ceiling by 900M euro             with haircuts on collateral unchanged. EU has also approved a bridge loan worth €7 billion.

Technically major levels to watch out on the downside are 1.0850 (Jul 16th low) and any break below target 1.0789 (low Apr             .25) /1.0666 (low Apr             .24).

On the higher side minor resistance is around 1.0950 (20 day 4 HMA ) followed by 1.1025 (Kijun-Sen)/ 1.1036 (Jul 15th high)

It is goo to buy at dips around 1.0890 with SL around 1.0848 for the TP of 1.0950/1.100.
It is good to sell around 1.0845 for the TP of 1.08000
Yes that is why i took the trade when i saw the inverted hammer :)
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