EURUSD Buy on Dips
The Euro remained in an uptrend and recently moved above the 1.1820 resistance area against the US Dollar. There was a break above a bearish trend line at 1.1828 on the hourly chart.
The EURUSD pair traded as high as 1.1868 and currently correcting lower. The broken trend line at 1.1828 and the 50% Fib retracement level of the last wave from the 1.1793 low to 1.1868 high are support levels on the downside.
There are also two bullish trend lines at 1.1830 and 1.1815 on the hourly chart to provide support. Overall, the pair remains well supported and buy on dips near 1.1830-20 in the near term.