EURUSD – Up
Technical observation
On the 4H chart above,EURUSD broke above a key resistance zone (1.2471-1.2455) on 15th of February this year, price then retraced to the zone as a support but got rejected and went up. Currently it is rallying above the zone and I expect possible pullback to it to buy EURUSD.In case there’s a clear breach of price below (1.2471-1.2455) then that would be the best time to short the pair after a retracement to the zone towards 1.2301.Right now only long positions look ideal and can be advised around or within (1.2471-1.2455) with your take profit at .12560 and stop loss around 1.2401.
Technical levels
Resistance levels
R1.1.2281
R2.1.2291
R3.1.2311
Pivot
1.2271
Support levels
S1.1.2262
S2.1.2251
S3. 1.2232
Trade signal
Buy EUR around or within (1.2471-1.2455) with your take profit at .12560 and stop loss around 1.2401.
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