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Place pending buy limit around (1.2215-1.2184)

Place pending buy limit around (1.2215-1.2184) | 09 March 2018

09 March 2018, EUR/USD

Place pending buy limit around (1.2215-1.2184)

Technical observation

A breakout was seen when the price broke out above (1.2215-1.2184) and is currently above, just now, the price is pulling back to the same zone which had three previous retracements to it .we’re waiting for a clear rebound from this zone to pick long positions with an ultimate target at 1.2155.As long as the price is above 1.76235, we’re waiting for a clear buy signal. The ideal it to place a pending buy limit around (1.2215-1.2184) with your stop los way below 1.2133.Only sell if the price clearly breaks out below 1.2184 with a big red candle. If there’s a breakout above 1, 2155,continue long after a correction to it.

Technical levels

Resistance levels

R1.1.2367

R2.1.2398

R3.1.2479

Pivot

1.2320

Support levels

S1.1.2287

S2.1.238

S3.1.2157

Trade signal

Place a pending buy limit around (1.2215-1.2184) with your stop los below 1.2133.

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Imelda Maseno
Analyst of «FreshForex» company
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