• EUR/USD has shown a good recovery on account of difference of opinion on the ECB’s governing council on rate hike. Most of the members have felt that 2019 end rate hike might be too late. The chance of rate hike earlier than expected is pushing Euro higher.German factory order data released today came better than expected. The factory order surged 2.6% gain was more than twice as strong compared to forecast of 1.1%.Markets are packed with major US economic data such as US ISM Non manufacturing, ADP employment and US Fed minutes meeting. The pair hits intraday high of 1.17105 and is currently trading around 1.16850.
   
• EUR/USD’s near term support is around 1.16700(200- 4H MA) and any break below will drag the pair to next level till 1.16300/1.15900.Any break below 1.1500 confirms minor weakness and decline till 1.1400/1.13600 is likely. Short term bullish invalidation below 1.1500.US 10 year and 2-year bond yield is trading flat.
   
• On the higher side, near term resistance is around 1.17200 and any break above will take the pair to next level till 1.1750/1.1800/1.1850.
  
  It is good to sell on rallies around 1.1705-10 with SL around 1.1755 for the TP of 1.1525.