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TipTVFinance
Jun 9, 2016 6:42 AM

EUR/USD - ...And the wait continues 

Euro Fx/U.S. DollarFXCM

Description

Resistance - 1.1416, 1.1465, 1.15

Support - 1.1386, 1.1357, 1.1320-1.13

  • As can be seen on the hourly chart, the spot is struggling to see a bullish break from flag formation.

  • Repeated failure to take out flag resistance followed by a drop below 1.1388 (daily low) would open doors for a re-test of 1.1376 - 1.1370. A violation there would expose 1.1357 levels.

  • On the other hand, only a hourly close above flag resistance would signal continuation of Friday's rally and expose 1.15 handle.
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