EURUSD – Up
Technical observation
The pair on the daily chart above Is on an upward trend, price broke above a resistance zone1.1725-1.1661,price then retraced to the broken zone thrice before racing up towards a resistance 1.2513 but it could not penetrate above it and was rejected. Currently price is within the support zone 1.1725-1.1661 and I don’t expect a breakout below it but a rejection from it for possible bullish momentum towards 1.2513 and a breakout above it for a further rise in price towards 1.2998.Only long positions look ideal and I would advise buy long EUR/USD now with your ideal target at 1.2513 and stop loss around 1.1387.
Technical levels
Resistance levels
R1.1.1771
R2.1.1893
R3.1.2078
Pivot
1.1708
Support levels
S1.1.1587
S2.1.1524
S3.1.1339
Trade signal
Buy EUR now with your take profit at 1.2513 and stop loss around 1.1387.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.