EUR/USD has turned up from the 50-day MA at 1.1715 yesterday. This is a sign that buyers are strong. Still, the short-term resistance line limits the upside at 1.1870.
EUR/USD: euro going to new 3W-highs
Technical levels: support – 1.2380; resistance – 1.2440.
- Buy — 1.2380; SL — 1.2360; TP1 — 1.2440; TP2 — 1.2470;
Reason: bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen above the Cloud; the Bulls breaking out the SSB’s resistance and returned to positive zone; expected the a highs.
EUR/USD is supported around 1.1750. However, the pair has already fallen below the summer support line. We’ll view buy trades only when the pair returns above 1.1800.
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