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Buy EURUSD

16 April 2018, EUR/USD

Buy EURUSD

Technical observation

On the weekly chart above,EURUSD retraced at a key zone (1.2243-1.2201) four times while on a upward trend, currently price is rallying above I and I expect bullish movement of price towards 1.2555 and a breakout above it for a further rise in price towards the key line 1.2898,if you had not bought EUR you can buy it now with your take profit at 1.2555 and stop loss around 1.1999.In case of a breakout below the zone with a big red candle, wait for a correction to the zone then short EUR with your take profit at 1.1732,or even lower to 1.1398 if price breaks below the line 1.1732 with a big red candle.

Technical levels

Resistance levels

R1.1.2398

R2.1.2466

R3.1.2603

Pivot

1.2329

Support levels

S1.1.2261

S2.1.2192

S3.1.2055

Trade signal

Buy EUR now with your take profit at 1.2555 and stop loss around 1.1999.

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Imelda Maseno
Analyst of «FreshForex» company
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