Short term trend - Bearish
EURUSD hits one week high at 1.16875 yesterday and is consolidating after hitting the level. The pair is facing hurdle at 1.1680- 1.1670 which was acting as neckline of Head and shoulder pattern. Any convincing break above will take the pair to next level till 1.1720 (support turned into resistance)/1.1755/1.1800.
Any slight weak US Non-Farm Payroll data will take the Euro to next level. It should break above 1.1880 for further upside.
On the lower side, near term support is around 1.16400 (20- 4H MA) and any break below will drag the pair till 1.1600/1.15715.
It is good to buy above 1.1670 with SL around 1.16400 for the TP of 1.1720/1.1745.
EURUSD hits one week high at 1.16875 yesterday and is consolidating after hitting the level. The pair is facing hurdle at 1.1680- 1.1670 which was acting as neckline of Head and shoulder pattern. Any convincing break above will take the pair to next level till 1.1720 (support turned into resistance)/1.1755/1.1800.
Any slight weak US Non-Farm Payroll data will take the Euro to next level. It should break above 1.1880 for further upside.
On the lower side, near term support is around 1.16400 (20- 4H MA) and any break below will drag the pair till 1.1600/1.15715.
It is good to buy above 1.1670 with SL around 1.16400 for the TP of 1.1720/1.1745.