Forex Technical Analysis: Trend potential – Long EUR

EURUSD – Up

Long EUR

Technical observation

EURUSD has been trading above a support zone 1.2217-1.2192 and is still above it, price has tested this support zone several times and has not been able to penetrate below it.As long as price is above this support zone, I expect a bullish price rally towards 1.2557.Currently price is within this zone hence a buy opportunity. You can long this pair now within the zone .If price breaks or gaps below this support zone ,price could rally downwards instead towards 1.1931 hence I will look for a sell opportunity. Right now you can long the pair with your take profit at 1.2557 and stop loss around 1.2090.

Technical levels

Resistance levels

R1.1.2345

R2.1.2401

R31.2505

Pivot:1.2297

Support levels

S1.1.2241

S2.1.2194

S3.1.209

Trade signal

Long EUR now with your take profit at 1.2557 and stop loss around 1.2090.

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