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- Pattern Formed – inverse Head and shoulder
- EUR/USD has once again recovered after making a low of 1.09511. It is currently trading around 1.0955.
- Short term trend is slightly bullish as long as support 1.0850 holds. Any violation below this level confirms minor trend reversal, a decline till 1.08200/1.0775 is possible. The minor support is around 1.08700.
- On the higher side, any break above 1.0955 will take the pair to next immediate resistance at 1.0970/1.100 level in the short term.
It is good to buy on dips around 1.0905 with SL around 1.08700 for the TP of 1.0970/1.100.
