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Buy EUR/USD now

Buy EUR/USD now | 06 August 2018

06 August 2018, EUR/USD

Technical observation

On the weekly chart above, EUR/USD has been trading on an upward trend with retracements at the key supportive zone 1.1581-1.1506.Last week, price corrected to the zone and is currently within it, you can long the pair now within the zone with your ideal target at the resistance 1.2465 and stop loss slightly below 1.1506.In case of a breach above 1.2465,wait for a correction to it to confirm bullish momentum of price before you continue long with the pair. In case of a clear breach below the zone 1.1581-1.1506 with a big red candle, wait for a correction to it to confirm bearish movement of price before you enter short positions.

Technical levels

Resistance levels

R1.1.169

R2.1.1811

R3.1.1997

Pivot

1.1625

Support levels

S1.1.1504

S2.1.1439

S3.1.1253

Trade signal

Buy EUR/USD now within 1.1581-1.1506 with your take profit at 1.2465 and stop loss slightly below 1.1506.

Do you know against which currencies EUR is the most profitable?

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Imelda Maseno
Analyst of «FreshForex» company
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