FxWirePro: EURUSD trade Idea

EURUSD has pared some of its loss made yesterday after better than expected German prelim GDP data.Euro has jumped till 1.13414 on Feb 12th and shown a decline till 1.12489. The German 4th quarter GDP came at 0% compared to forecast of 0.1%. The pair jumped slightly till 1.12949 and pared gains made after the data. It is currently trading around 1.12744.

On the lower side, near term support is around 1.12480 low made yesterday and any violation below targets 1.12155/1.1200.

The near term major resistance is around 1.1300 and any violation above will take the pair till next level 1.13414 high made on Feb 12th/1.13830/1.1435.  

It is good to sell on rallies around 1.1300 with SL around 1.13420 for the TP of 1.12155.

Resistance

R1- 1.1305

R2 -1.1350

R3- 1.13830

Support               

S1- 1.1250

S2- 1.12160

S3- 1.1200