EUR/USD Trade Idea

• Major resistance – 1.12680 (trend line joining 1.163 and 1.13660).
   
• Major support – 1.1180 (100- day MA).
   
• The pair has taken support at 200- day MA and jumped from the level. It has jumped till 1.12507 level and is currently trading around 1.12373.
   
• Short term trend is bullish as long as support 1.1180 holds.
   
• Fundamental data released today was German Manufacturing PMI. German Manufacturing PMI rose to three-month high of 54.3 in Sep from Aug 53.6. Market awaits US ISM manufacturing data for further direction.
   
• EUR/USD is facing resistance at 1.12680 and any violation above targets 1.1300/1.13660 level. On the lower side, support is around 1.1200 (psychological support) and any break below will drag the pair down till 1.1158 (200- day MA)/1.1120. It should break below 1.1120 for further weakness.

It is good to buy on dips around 1.1205 with SL around 1.1158 for the TP of 1.1280/1.1360.

Resistance 

R1-1.12680

 R2-1.1300

 R3-1.1360

Support    

S1-1.1180

S2-1.11580

S3-1.1120