Euro / Dolar A.S.
Panjang

EURUSD- AB=CD Pattern (Buy on dips)

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Chart pattern- AB=CD pattern.


EURUSD pared some of its gains after mixed US CPI. It hits a low of 1.10033 and is currently trading around 1.10222.

According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep decreased to 14% from 34% a day ago.

The pair trades below short term (34 AND 55 EMA) in 8-hour chart. Major resistance to watch- 1.10231/1.10385/1.10554/1.10667. Bullish continuation only above 1.12050.

Major support- 1.09880,1.09420

It is good to buy on dips around 1.0978-80 with SL around 1.0930 for a TP of 1.1148.

Penafian

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