EURUSD – Up
Technical observation
On the 4H chart above, EUR has been trading on an upward trend with major retracements at a key support zone (1.2200-1.2177)recently price failed to be corrected to the zone and continued to race further up, yesterday however, price retraced at zone (1.2394-1.2370) then went up with one green candle, right now the pair is retracing to the zone and I expect a rejection at it to long EUR towards 1.2537,I also expect price to break 1.2537 and continue with a bullish move,incase price goes below (1.2200-1.2177)then that would be the ideal time to short EUR after a retracement to the zone .As long as price remains above this zone, only long positions can be advised.
Technical levels
Resistance levels
R1.1.2271
R2.1.2284
R3.1.2306
Pivot
1.2270
Support levels
S1.1.225
S2.1.2241
S3.1.222
Trade signal
Wait for a retracement at zone (1.2394-1.2370) and buy EUR within it with your take profit at 1.2537 and stop loss at 1.2348
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