Forex Technical Analysis: Trend potential – Buy Eur towards 1.18394

EURUSD – Up

Buy Eur towards 1.18394

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

R3: 1.1948
Pivot
1.1617
Support Levels
S1: 1.1278
S2: 1.1448
S3: 1.1554
Trade Signal
Buy Eur towards 1.18394

101% Double the volume

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