Buy EUR within 1.1598-1.1513 | 02 July 2018

02 July 2018, EUR/USD

Buy EUR within 1.1598-1.1513

Technical observation

On the weekly chart above, EUR/USD is on an upward trend. Price retraced at a supportive zone 1.1598-1.1513 twice before moving up and is currently correcting to it. I expect a rejection of it within the zone for possible bullish momentums towards the resistance 1.2456.I also expect a breakout above it for a further rise in price towards 1.3469. I would advise you wait for the rejection of price within the zone then long the pair within it with your take profit at 1.2456 and stop loss around 1.1246.In case of a breakout below 1.1513 with a bi red candle, wait for a correction to it before you short the pair.

Technical levels

Resistance levels

R1.1.1761

R2.1.1838

R3.1.2032

Pivot

1.1644

Support levels

S1.1.1567

S2.1.145

S3.1.1256

Trade signal

Buy EUR within 1.1598-1.1513 with your take profit at 1.2456 and stop loss around 1.1246.

101% Double the volume

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Imelda Maseno
Analyst of «FreshForex» company
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