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Wait for a breakout above 1.2503

14 March 2018, EUR/USD

Wait for a breakout above 1.2503

Technical observation

During the previous days,EUR has been rallying towards a key line 1.2503,I expect a breakout above it for a rise in price. I would advise you wait for a breakout above 1.2503 to buy EURUSD towards the weekly resistance line1.2778 and your stop loss around 1.2410,In case there’s no breakout above and price gets pulled back to the support zone(1.2183-1.2151),you can enter long positions then within the zone, and if there’s a clear breakout below 1.2151 with a big red candle, wait for a correction to the zone before you enter short positions towards 1.1935,remain short in case of a breakout below 1.1935.

Technical levels

Resistance levels

R1.1.2357

R2.1.2379

R3.1.2435

Pivot

1.2326

Support levels

S1.1.2302

S2.1.2268

S3.1.2213

Trade signal

Wait for a breakout above 1.2503 to buy EUR with your take profit at 1.2778 and stop loss around 1.2410

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Imelda Maseno
Analyst of «FreshForex» company
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