Forex Technical Analysis: Trend potential – Buy Eur at 1.15322

EURUSD – Up

Technical Observation:

Euro traded massively with an increasing bearish bias but is currently at a key daily support zone 1.15322-1.14460. I’m waiting for a bounce from this support zone to buy Eur with my take profit at 1.24240. In my opinion, the best place to buy Eur is on a bounce from 1.15322-1.14460, but should the price break below 1.14460, then I’ll be looking for short positions towards the weekly support 1.04967.

Technical Levels

Resistance levels

R1: 1.1793

R2: 1.1978

R3: 1.2287

Pivot

1.1669

Support Levels

S1: 1.1048

S2: 1.1359

S3: 1.1484

Trade Signal

Buy Eur at 1.15322 towards 1.2424

101% Double the volume

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