• FxWirePro: xrpusd faces strong trend line resistance at 1.75, break above targets 2.25

    Source: FxWire Pro - Technicals / 19 Jan 2018 02:36:10   Eastern Standard Time

    • Major resistance – 1.75 (trend line joining 3.06 and 2.78).
       
    • The pair has formed a triple bottom at 0.87 and jumped sharply from that level. Intraday term trend is slightly bullish as long as major support 1.25 holds. The major resistance is around 1.60 (200- 4H EMA) and break above targets 2.09/2.40.  It is currently trading around 1.5200.
       
    • The near term support is around 1.25 and break below targets 1/0.87. Major weakness only below 0.61.
       
    • On the higher side, near term resistance is around 1.60 (200- 4H EMA and 23.6% fibo) and any break above will take the pair to next level till 1.97/2.09. The pair should close above 2.25 level for further bullishness.

    It is good to buy above 1.75 with SL around 1.50 for the TP of 2.25/2.40.