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FxWirePro: EURUSD trades below 1.11750 as US blacklist Huawei, good to sell on rallies
Major support - 1.11750
EURUSD is trading lower for past four trading days after a jump till 1.12635 on May 13th 2019. The decline was due to ongoing trade tension between US and China. US President Trump has blacklisted Huawei from today and Chinese media stated that the country is not interested in further trade talks with US. US jobless claims and housing data came better then expected yesterday .US 10 year yield has shown a minor recovery of more than 2.5%. The pair hits low of 1.11582 and is currently trading around 1.11705.
On the lower side, near term major resistance around 1.12250 and any violation above targets 1.12635. Any minor bullishness only above 1.12635 and any break above targets 1.1300/1.3340.
The near term support is around 1.11500 and any break below targets 1.1100/1.10700.
It is good to sell on rallies around 1.12000 with SL around 1.12500 for the TP of 1.110.