EUR/USD is facing resistance around 1.1290, good to buy at dips

FX:EURUSD   Euro / U.S. Dollar
647 0 5
•RES4:1.11532 (Feb 3rd high)

•RES3: 1.1427 (161.8% retracement of 1.12889 and 1.1065)

•RES 2: 1.13689 (May 6th             high)

•RES 1: 1.1290 (May 1st high)

PRICE: 1.1230 @ 12:03 GMT            

•SUP 1: 1.1213 (200 day HMA )

•SUP2: 1.1178 (May 8th low)

•SUP 2: 1.1120

•SUP 3: 1.1065 (May 5th high)

EUR/USD             has recovered till 1.2778 and declined form that level. Overall trend is still bullish as long as short term support 1.11780 holds.

Intraday resistance is around 1.1290.

The major support is around 1.1120 and break below will target 1.10650/1.1035.

It is good to buy at dips around 1.1220 with stop around 1.1178 for the target of 1.1290/1.1380.

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