FxWirePro: EUR/USD Trade Idea

• EURUSD hits 1.2070 fresh 27 month high and is hovering around this level.   The pair is trading higher after dovish statement by Janet Yellen in Jackson Hole symposium.
   
• The pair gained second session in a row jumped almost 17% since Jan low of 1.03400. US 10 year yield hits 2.10% level lowest since Nov 2016.
   
• On the higher side, any break above 1.200 confirms major trend reversal, a jump till 1.2100 (psychological level)/1.2186 (Dec 25th 2017 high)/1.2500. The near term resistance is around 1.20705.
   
• The near term support is around 1.19169 (Aug 28th low) and nay break below will drag the pair down till 1.18550 (5 day MA)/1.1805 (10- day MA)/1.17780 (21- day EMA).
   
• In the daily chart RSI and MACD shows over bought and a slight dip is possible which can be used as best buying opportunities.

It is good to buy on dips around 1.19100 with SL around 1.1800 for the TP of 1.1207/1.12100.

Resistance
               

R1- 1.20704

R2 1.2100
 

R3- 1.2185
 

Support               
 

S1-1.19100
 

S2-1.1850
 

S3-1.1770