FxWirePro: EUR/USD trade Idea

• EUR/USD was trading marginally higher and jumped till 1.23227 0.05% higher. Market awaits ahead of his appearance Fed Jerome Powell testimony in congress for further direction. His testimony will be released at 13.30 GMT, ahead of his appearance at 15:00GMT. It is currently trading around 1.23168.
   
• Market awaits US durable goods order and Consumer board consumer confidence data which is to be released today will have mild impact on the pair.
   
• The pair is facing near term resistance of 1.2363 (20- day MA and break above will take the pair till 1.2442 (61.8% Fibo)/1.2500. Bullish continuation can be seen above 1.2550.
   
• On the lower side, near term support is around 1.2280 and any violation below will drag the pair to next level till 1.2200/1.2165. Minor weakness can be seen only below 1.2200.

It is good to buy on dips 1.2300 with SL around 1.2360 for the TP of 1.2200/1.2165.

Resistance
 

R1-1.2362
 

R2 – 1.2445
 

R3-1.2500

Support               
 

S1-1.2280
 

S2-1.2200
 

S3- 1.2165