EURUSD – Up
Technical observation
On the weekly chart above, EUR/USD is on an upward trend. Price retraced at a supportive zone 1.1598-1.1513 twice before moving up and is currently correcting to it. I expect a rejection of it within the zone for possible bullish momentums towards the resistance 1.2456.I also expect a breakout above it for a further rise in price towards 1.3469. I would advise you wait for the rejection of price within the zone then long the pair within it with your take profit at 1.2456 and stop loss around 1.1246.In case of a breakout below 1.1513 with a bi red candle, wait for a correction to it before you short the pair.
Technical levels
Resistance levels
R1.1.1761
R2.1.1838
R3.1.2032
Pivot
1.1644
Support levels
S1.1.1567
S2.1.145
S3.1.1256
Trade signal
Buy EUR within 1.1598-1.1513 with your take profit at 1.2456 and stop loss around 1.1246.
101% Double the volume
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