FxWirePro: EUR/USD Trade idea

• Major resistance- 1.0510 (daily Tenken-Sen)
   
• Major support – 1.03500
   
• EUR/USD is trading in narrow range between 1.03522 and1.04992 for the past five trading session.The pair closed at 1.04514. It is currently trading around 1.04525.
   
• The pair made a high of 1.04992 on 22nd Dec 2016 and it’s upside is capped by daily Tenken-Sen and any break above that level will take the pair to next level till 1.0560 (21 day MA)/1.0613 (daily Kijun-Sen)/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

R2-1.0610

R3- 1.0670

Support      

S1-1.0400

S2-1.03400

S3- 1.02835