EUR/USD takes support near 1.06000 level, good to buy on dips
Major resistance – 1.0670 (Dec 14th 2016 high)
Major support – 1.04600 (61.8% retracement of 1.03400 and 1.06645).
EUR/USD is showing some sort of buying interest at 1.06000. The pair declined till 1.06050 a nd jumped from that level. It is currently trading around 1.06495.
It is trading well above 30- 4 H EMA and 60- 4H EMA. Any close below 1.0540 will confirm minor weakness.
The pair should close above 1.06702 (61.8% retracement of 1.08735 and 1.03422) for further jump till 1.0705-10 (38.2% Fibonacci retracement of 1.1300-1.0340)/ 1.0740-45 (100% projection of 1.0340-1.0627 measuring from 1.0454)/1.08750.
On the lower side, any break below 1.0600 will drag the pair down till 1.0550 (200- 4H EMA)/1.04800/1.04500.
It is good to buy on dips around 1.0635-1.0640 with SL around 1.0580 for the TP of 1.0745/1.0800
Major support – 1.04600 (61.8% retracement of 1.03400 and 1.06645).
EUR/USD is showing some sort of buying interest at 1.06000. The pair declined till 1.06050 a nd jumped from that level. It is currently trading around 1.06495.
It is trading well above 30- 4 H EMA and 60- 4H EMA. Any close below 1.0540 will confirm minor weakness.
The pair should close above 1.06702 (61.8% retracement of 1.08735 and 1.03422) for further jump till 1.0705-10 (38.2% Fibonacci retracement of 1.1300-1.0340)/ 1.0740-45 (100% projection of 1.0340-1.0627 measuring from 1.0454)/1.08750.
On the lower side, any break below 1.0600 will drag the pair down till 1.0550 (200- 4H EMA)/1.04800/1.04500.
It is good to buy on dips around 1.0635-1.0640 with SL around 1.0580 for the TP of 1.0745/1.0800