EURUSD – Up
Technical observation
Recently, EUR/USD broke down below a support zone 1.2235-1.2192 with a big red candle, price then rallied down and is currently pulling back to the broken zone. I don’t expect a breach above the it but a rejection of price within it for bearish movement of price towards the support line 1.1739 and a breakout below it for a further decline in price towards 1.1387.I would advise you wait for the pull back to 1.2235-1.2192 then short EUR within it with your first take profit at 1. 1739and the next at 1.1387 and your stop loss around 1.2557.Long positions can only be advised in case of a clear breakout above 1.2235-1.2192.
Technical levels
Resistance levels
R1.1.2006
R2.1.207
R3.1.2226
Pivot
1.1914
Support levels
S1.1.185
S2.1.1758
S3.1.1602
Trade signal
Wait for a correction to 1.2235-1.2192 then short EUR within it with your take profit at 1.1739 and stop loss around 1.2557.
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