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FxWirePro: Buy EUR/USD above 1.2275

  • EUR/USD was trading in narrow range between 1.22140 and 1.22955 for the past three trading session. US dollar has shown a minor recovery as US shutdown ends as congress strikes deal. The pair is still bullish as long as support 1.26150 Jan 17th 2018 low. It is currently trading around 1.22305.
     
  • The Republicans and Democrats agreed on short term funding bill ends on Feb 8th 2018. This will have very little impact on US dollar index. But major reaction is possible only after ECB governing council meeting for further jump of Euro above 1.23 level. Any break above 1.230 confirms bullish continuation and jump till 1.2600 (61.8% fibo)/1.3000 likely.
     
  • The minor support is around 1.2200 and any violation below targets 1.2165/1.20900-1.2103 (resistance turned into support)/200- 4H EMA).

It is good to buy above 1.2275 with SL around 1.2210 for the TP of 1.2600/1.3000.

 

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