FxWirePro: EUR/USD Triple Bottom Pattern Intensifies Renewed Bullishness, Major Downtrend Still Intact – Trading & Hedging Setup
FxWirePro: Buy EURUSD on dips
Ichimoku (hourly chart)
EURUSD is trading in a narrow range between 1.09253 and 1.08300 for the past 3 days. The overall trend is neutral as long as resistance 1.09250 holds. Markets eye US Jobless claims, Fed Chairman Powell speech and Eurogroup meetings for further direction. It hits an intraday high of 1.08820 and is currently trading around 1.08703.
The slight decline in the number of new cases and deaths in Italy and Spain is supporting Euro at lower levels. Any break above 1.09250 high made on Apr 7th will take the pair to next level till 1.09680/1.1000.
On the flip side, near term support 1.08300 and any indicative break below targets 1.07950 (trend line support)/1.0770.
It is good to buy on dips around 1.0848-50 with SL around 1.0800 for the TP of 1.09680.