2017.01.2007:03:00UTC+00Fxwirepro:eur/usd Trade Idea

• Potential Reversal Zone (PRZ) – 1.07350
   
• Major Support – 1.0580 (double bottom)
   
• The pair has formed a bottom at 1.05890 and jumped sharply till 106937 level at the time of writing. It is currently trading around 1.06372.
   
• EUR/USD has taken support near 38.2% fibo level and break below will drag the pair down till 1.0540 (20- day MA)/1.04800.
   
•  The pair major resistance is around 1.07350 and any break above 1.0735 confirms minor bullishness  and a jump till 1.0800/1.08750.
   
• Short term bearish invalidation only above 1.08735 level.
  
  It is good to buy on dips around 1.0580 with SL around 1.0530 for the TP of 1.06800/1.0720

Resistance                                                                           

R1-1.0735

R2-1.0800

R3- 1.0875

Support      

S1-1.0580

S2-1.0540

S3- 1.0480