- Major support – 1.1160 (May 22nd 2017 low).
- EURO formed top around 1.12678 and started to show a decline after Donald Trump’s first budget plan has no surprise. The pair declined sharply till 1.11700 and showing minor buying interest from that level.
- Market awaits ECB Financial stability review followed by Draghi speech for further direction. But upside will be limited as market firmed up their expectations of a June Fed hike.
- On the lower side, any break below 1.11600 will drag the pair down till 1.110 (23.6% retracement of 1.105694 and 1.12678)/1.1050/1.1000.
It is good to sell on rallies around 1.1220 with SL around 1.1299 for the TP of 1.1070/1.1050.
The material has been provided by InstaForex Company – www.instaforex.com
May 24, 2017 at 05:43PM
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