EURUSD – Up
On the weekly chart above, EURUSD broke down below a support zone 1.2235-1.2192 with a big red candle and is currently below it.I expect a correction to the just broken zone and a rejection of price from it for bearish movement of price towards 1.1739 and a breakout below it for a further decline in price towards 1.1387.I would advise you wait for the correction to the zone then short EUR on the second on to the zone with your take profit at 1.2739 and stop loss around 1.2557.In case of a breakout below 1.1387,continue long with EUR after the second retracement to it. Only buy if price goes above 1.2235-1.2192.
Sell EUR after the second correction to 1.2235-1.2192 with your take profit at 1.2739 and stop loss around 1.2557.
You may check other analytical reviews on FreshForex website. Source: freshforex.com.