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EUR/USD: Buy on dips (target 1.2000) : FxWirePro | December 26, 2017

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EUR/USD 0.04% has recovered almost 70 pips after hitting low of 1.18170. US dollar 0.04% showed only little reaction for the mixed set of economic data released on Friday. Headline US durable goods order rose 1.3% in Nov below forecast of 2.2%. US Personal income -4.32% came at 0.3% compared to expectations of 0.4% and spending rose to 0.6% compared to forecast of 0.5%. The pair hits high of 1.18756 the time of writing. It is currently trading around 1.18713.

The pair is facing psychological resistance at 1.1900 and any break above that level will take the pair to next level to 1.19615 (Nov 27th 2017 high)/1.200/1.2090.

On the lower side, any break below 1.1800 (200- 4H EMA ) will drag the pair to next level till 1.1755/1.1700. Any minor weakness can be seen only below 1.1700.

It is good to buy on dips around 1.1860-65 with SL around 1.1800 for the TP of 1.1960/1.200.


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