EURUSD- Watch out for 1.04800

13 thg 10, 2023

EURUSD took support near 1.04800 after US Non-farm payroll data. The pair recovered to 1.06396 (38.2% fib 1.09454 and 1.04482) and showed a minor sell-off due to geopolitical tension between Palestine and Israel. It is holding well below 21 and 55 EMA (Short term) and 200 EMA (long-term) in the 4-hour and daily chart.

Any breach below 1.04800 confirms a bearish continuation and a dip to 1.03950/1.03299 is possible.

It is good to sell below 1.04800 with SL around 1.0530 for the TP of 1.03950/1.03600.