FxWirePro: EUR/USD Trade idea

• Major resistance- 1.0500 (3- W EMA)
   
• Major support – 1.03500
   
• EUR/USD jumped till 1.04990 in the previous week and slightly declined from that level.The pair closed at 1.04459.It is currently trading around 1.04445.


• The pair jumped till 1.04992 and it should close above 3- W MA for further bullishness. Any close above will take the pair to next level till 1.0570 (5- W MA)/1.0590 (7- W MA)/1.0670. Short term bullishness only above 1.06700 level.
   
• On the lower side EUR/USD is facing strong support at 1.03400 (127.2% retracement of 1.03665 and 1.04720) and any violation below will drag the pair till 1.02835 (161.8% retracement of  1.05047 and 1.08700).
  
  It is good to sell on rallies around 1.0540 with SL around 1.0600 for the TP of 1.03500

Resistance                                                              

R1-1.0540

R2-1.0600

R3- 1.0670

Support      

S1-1.0400

S2-1.03400

S3- 1.02835