EUR/USD Trade Idea

• Major resistance – 1.1320
   
• Major intraday resistance – 1.12650 (200 day 4H MA)
   
• The pair has slightly recovered after making a low of 1.12150 on Friday .it is currently trading around 1.12480.
   
• Short term trend is slightly bearish as long as resistance 1.1320 holds.
   
• On the higher side major intraday resistance is around 1.12650 and break above targets 1.1320/1.1380/1.1400.
  The pair should close above 1.1400 for further bullishness.
   
• The support is at 1.1200 and nay violation below that level targets 1.11500/1.10500 level.

It is good to sell on rallies around 1.1250-55 with SL around 1.1320 for the TP of 1.1150/1.1050

R1-1.12650

 R2-1.1320

R3-1.1380

Support

S1-1.1200

S2-1.1150

S3-1.1050