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Wait for a pullback into 1.0882 to rebuy EUR

Wait for a pullback into 1.0882 to rebuy EUR | 26 April 2017

26 April 2017, EUR/USD

Wait for a pullback into 1.0882 TO Rebuy EUR

Technical Observation:
At the begin of this trading week, Euro opened above it's pivot line (1.0703). It will continue to move on to the top but will likely face a resistance around 1.1141. From the Hourly chart above, the rise above the short term resistance zone 1.0866-1.0883 signifies a rise above a key short term zone. Now that the price is above it, I expect this zone to be a possible buy area towards 1.10. My advice, wait for a second test of this area to re-buy EUR towards 1.10. Your SL should be slightly below 1.0861 and TP fixed at 1.1141
Technical levels:
Resistance levels
R1: 1.0942
R2: 1.0945
R3: 1.0953
Pivot Point
1.0938
Support Levels
S1: 1.0923
S2: 1.093
S3: 1.0935
Trade Signal
Re-buy from 1.0855-1.0883 towards 1.1141

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Imelda Maseno
Analyst of «FreshForex» company
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