EURUSD: Watch out 61.8% fibo for further bullishness
Major resistance – 1.0670 (Dec 14th 2016 high)
Major support – 1.0480 (Dec 5th Low)
EUR/USD has taken support near 1.4800 and recovered sharply from that level. It is currently trading around 1.0608.
It breaks 1.0600 handle in the Asian session and jumped till 1.06272. The pair should break above 1.06702 (61.8% retracement of 1.08735 and 1.03422).
Any break above 61.8% fibo level will take the pair to next level till 1.0745/1.08700
EUR/USD should break below 1.04800 for minor weakness and any break below 1.04300/1.03800.the minor support is around 1.0550/1.0500.
On the higher side, any break above 1.0670 will take the pair to next level till 1.0745/1.0870.
It is good to buy on dips around 1.0605 with SL around 1.0550 for the TP of 1.06700/1.0745/1.0870
Major support – 1.0480 (Dec 5th Low)
EUR/USD has taken support near 1.4800 and recovered sharply from that level. It is currently trading around 1.0608.
It breaks 1.0600 handle in the Asian session and jumped till 1.06272. The pair should break above 1.06702 (61.8% retracement of 1.08735 and 1.03422).
Any break above 61.8% fibo level will take the pair to next level till 1.0745/1.08700
EUR/USD should break below 1.04800 for minor weakness and any break below 1.04300/1.03800.the minor support is around 1.0550/1.0500.
On the higher side, any break above 1.0670 will take the pair to next level till 1.0745/1.0870.
It is good to buy on dips around 1.0605 with SL around 1.0550 for the TP of 1.06700/1.0745/1.0870
