FxWirePro: EUR/USD Trade Idea

• EUR/USD has shown a major slump yesterday after ECB policy meeting. The pair dipped till 1.1615 lowest since Jul 2017 at the time of writing.  It is currently trading around 1.16047.
   
• ECB tapers Asset purchase program (AAP) to 30 billion euros slightly dovish than expected. The central bank puts a gentle dovish twist on assets purchase. It has reduced to half asset purchase and extended its duration.
   
• On the lower side, the near term support is around 1.16000 and any convincing break below will drag the pair down till 1.1500/1.1400.
   
• On the higher side, near term resistance is around 1.1660 (Support turned into resistance) and any break above will take the pair to next level till 1.1720/1.17870. Minor bullishness only above 1.18800.

It is good to sell on rallies around 1.1685-1.1690 with SL around 1.1755 for the TP of 1.1500/1.1400.

Resistance
               

R1- 1.1680
 

R2 1.1740
 

R3- 1.1780
 

Support               
 

S1- 1.16000
 

S2-1.1500
 

S3-1.1480