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Long

EUR/USD :Intraday trade idea

FX:EURUSD   Euro / U.S. Dollar
276 0 6
Major intraday support – 1.0560

Major resistance- 1.06855 (Nov 28th 2016 high)

EUR/USD             edged lower yesterday after OPEC agreed to cut oil             production to 32.5 million barrels per day from the previous 33.7 million barrels per day.

The pair declined till 1.05527 and recovered sharply from that level. It is currently trading slightly above 1.060 level at 1.06195.

The intraday trend is slightly bullish as long as 1.05600 holds.

On the higher side, the major resistance is around 1.0685 and any violation above will take the pair to next level till 1.0755/1.08150.

Indicators (15 min)

CCI (50) – Buy

CCI (14)- Buy

ADX- Strength upward

It is good to buy on dips around 1.0610-15 with SL around 1.0560 for the TP of 1.6080/1.07530.
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