EURUSD – Up
Technical observation
On the weekly chart above,EUR broke down below a support zone 1.2245-1.2192 with a big red candle last week, I expect a correction to the just broken zone followed by a rejection of price within or around it for possible bearish movement of price towards the support zone 1.1727 and a possible breakout below 1.1727 for a further decline in price, My advice, wait a retracement to 1.2245-1.2192 and a rejection at it then sell EUR at the second retracement to the zone with your take profit at the support line 1.1727 and stop loss around 1.2423.Remain short in case of a breakout below 1.1727.
Technical levels
Resistance levels
R1.1.2262
R2.1.2393
R3.1.2628
Pivot
1.2159
Support levels
S1.1.2028
S2.1.1924
S3.1.169
Trade signal
Sell EUR on the second retracement to 1.2245-1.2192
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