Forex Technical Analysis: Trend potential – Buy Eur towards 1.18394

EURUSD – Up

Technical Observation:

Last week, Eur traded rapidly to the upper side and even went above the 4 hour resistance line 1.16464. This is a significant move and while the price is contained above this line, I expect a rally upwards with an ideal take profit at 1.18394. On its way upwards, the key lines to take profits include 1.17395, 1.18125 and 1.18394. And should the price breakout above this line, then I advice waiting for a pullback to the just broken line to buy eur towards 1.19815. Technical Levels

Resistance levels

R1: 1.173

R2: 1.1782

101% Double the volume

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