EUR/USD Short term outlook

•RES4: 1.1070 (trend line joining 1.0360 and 1.10510)

•RES 3:1.1050 (Mar 26th high)

•RES 2:1.1035 (Apr 6th High)

•RES 1: 1.100

PRICE: 1.1000@ 10:35 GMT

•SUP 1: 1.0977 (20 day 4HMA)

•SUP2: 1.0935 (Resistance turned into support)

•SUP 2: 1.0861 (Cloud bottom)

•SUP 3: 1.0810 (200 day HMA)


Commentary:

EUR/USD has broken major resistance 1.100 and this confirms short term bullishness, a jump till 1.1050/1.1070 cannot be ruled out. Intraday trend reversal can happen only below 1.0930

It is good to buy around 1.0980 with stop around 1.0930 for the target of 1.105/1.107.