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Long

EUR/USD Short Term Outlook

FX:EURUSD   Euro Fx/U.S. Dollar
960 2 8
•RES 4: 1.1035 ( Apr             6th high)

•RES 3: 1.1000

• RES 2: 1.0929 (76.4% retracement of 1.105 and 1.0519)

• RES 2: 1.0886 (8th high)

•RES 1: 1.0787 (20 day HMA )

PRICE: 1.0733 @ 11:10 GMT            

•SUP 1: 1.0683 (200 day HMA )

•SUP 2: 1.0640 ( 61.8% retracement of 1.0520 and 1.0847)

•SUP 3: 1.0580(15th Apr             low)

•SUP 4:1.0460 (Mar 13th low)

Commentary:

EUR/USD             has retreated after making a high of 1.0847. Overall trend is bullish as long as support 1.0640 holds.

On the upside minor resistance is around 1.0787 and break above would extend gains till 1.0881/1.0930. Buy around 1.0680 with stop around 1.0640 with target of 1.0881/1.0930.

Good call, nice point
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