EUR/USD Trade idea

• EUR/USD shown a continuous downside for the past ten trading session. It has declined till 1.08596 at the time of writing. The pair is currently trading around 1.08750.
   
• On the lower side, major support is around 1.08475 (161.8% retracement of 1.1045 and 1.13660) and any break below targets 1.0820 (Mar 10th 2016 low)/1.0775.
   
• The pair immediate resistance is around 1.0902 (23.6% retracement of 1.10392 and 1.08953) and any break above will take the pair to next level till 1.09500/1.09715.
   
• Short term trend reversal only above 1.1040.

It is good to buy on dips around 1.0875 with SL around 1.8400 for the TP of 1.09450/1.09715

Resistance

R1-1.09025

 

R2-1.0945

 

R3-1.09715

 

Support               

 

S1-1.0845

 

S2-1.0820

 

S3- 1.0775