EUR/USD Breaks Major Support 1.1207, Decline Till 1.1100 Is Possible

EUR/USD Breaks Major Support 1.1207, Decline Till 1.1100 Is Possible

22 March 2016, 11:56
Roberto Jacobs
0
27

EUR/USD Breaks Major Support 1.1207, Decline Till 1.1100 Is Possible

  • Major support – 1.12070 (trend line joining 1.12558 and 1.12355) 
  • Major intraday support – 1.1260 
  • The pair has broken 1.12070 and declined till 1.1883 at the time of writing. It is currently trading around 1.12063. 
  • Intraday trend is weak as long as support 1.1260 holds. 
  • On the lower side any break below 1.12070 will drag the pair down till 1.1155/1.1100. 
  • Any break above 1.1260 will confirm minor bullishness for the intraday , a jump till 1.1300/1.1350 is possible . 
  • Short term bearish invalidation only above 1.13500.

It is good to sell around 1.1200-1.1205 with SL around 1.1260 for the TP of 1.1155/1.1100.

The material has been provided by InstaForex Company - www.instaforex.com

Share it with friends: