EUR/USD struggles to break above 1.12950, targets 1.1135 Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Jun 16, 2015 5:32 AM

EUR/USD has formed double top around 1.12950 and is struggling to break above that level. Intra day trend is weak as long as resistance 1.1300 holds.

On the downside minor support is around 1.12420 and break below will drag the pair further down till 1.1178/1.1130 in short term.

It is good to sell on rallies around 1.12725 with SL around 1.1300 for the TP of 1.1178/1.1135.

Comments

skgogoi

⋅ Jun 16, 2015 8:03 AM

Since yesterday, EURUSD goes up from the 61.8% (1.1218) Fibonacci level, up to the 78% (1.1327) Fibonacci level.