FxWirePro: EURUSD Trade Idea

• Candle stick pattern- Gravestone doji
   
• EUR/USD has jumped sharply on Friday on account of weaker than expected U.S Inflation data. The pair jumped till 1.18475 yesterday and is currently trading around 1.18030.
   
• US core CPI data came at 0.1% in the month of Jul compared to forecast of 0.2% and yearly inflation is at 1.7% which is less than US Fed inflation target of 2%.
• On the lower side, near term support is around 1.17450 and any break below will drag the pair till 1.16880 (Aug 9th 2017 low)/1.16500. The minor trend reversal can be seen only below 1.16000.
• The near term resistance is around 1.1850 and any break above will take the pair till 1.19103 (Aug 8th 2017)/1.19391 (1.13% retracement of 1.19103 and 1.16880)/1.1200.

It is good to buy on dips around 1.17500 with SL around 1.1680 for the TP of 1.1850/1.1910.

Resistance
               

R1- 1.1830

 

R2 -1.1855
 

R3- 1.1910
 

Support               
 

S1-1.1750
 

S2-1.1680
 

S3-1.15980