FxWirePro: EUR/USD trade Idea

• EUR/USD has declined almost more than 100 pips yesterday and shown a minor jump from that level .  The Euro Zone GDP came at 0.4% QOQ as expected but slightly slower than growth rate of 0.7% in the previous month. Market eyes US ADP employment data shows that US economy has added 204k private jobs for the month of Apr compared to forecast of 200K.
   
• The pair is facing major near term support is around 1.2010 (200- day MA) and close below will drag the pair down till 1.1945/1.1900.
   
• On the higher side, near term resistance is around 1.2045 (55- H EMA) and any convincing break above will take the pair to next level till 1.208 (100- H MA)/1.2155.Minor bullishness can seen only 1.2150.

It is good to sell on rallies around 1.2075-80 with SL around 1.215 for the TP of 1.1945/1.1900.

Resistance

R1- 1.2045
 

R2 –1.2080
 

R3- 1.2155

Support               
 

S1- 1.1980
 

S2-1.1945
 

S3- 1.1900