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Looking to buy within 1.1267-1.1258

Looking to buy within 1.1267-1.1258 | 30 November 2021

30 November 2021, EUR/USD

Looking to buy within 1.1267-1.1258

Technical observation

On the hourly chart above, price rose and broke above the resistance zone 1.1267-1.1258 with a big green candle, it then retraced to the just broken zone and was sustained above it. As long as price remains above this zone, I anticipate a momentum to the upper side. My advice, wait for a second retracement to the zone 1.1267-1.1258 then buy EUR within it with your take profit at 1.1379 and stop loss at 1.1193. In case of a clear breakout above the resistance line 1.1379 with a big green candle, expect the value of this pair to plummet further the upper side. On your way upwards the key levels to look for include 1.1379, 1.1485 and 1.1630.

Trade recommendation

Wait for a pull back to the zone 1.1267-1.1258 to buy EUR.

Imelda Maseno
Analyst of «FreshForex» company
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