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EUR/USD: a temporary bottom
Information is not investment advice
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835). The correction to the upside may take the euro to 1.0910/1.0937 (100- and 50-period MAs).
On the H1, the pair’s trying to get above the 100-hour MA at 1.0857. The successful advance above this line is needed to trigger the mentioned bullish move. Support lies at 1.0854 and 1.0805. The slide below the latter, will open the way back down to 1.0770.
Trade idea for EUR/USD
BUY 1.0865; TP 1.0910; SL 1.0850
Elizabeth Belugina
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