Looking to rebuy eur | 15 January 2018

15 January 2018, EUR/USD

Looking to rebuy eur
Technical Observation:
Eur has been trading with an increasing bullish momentum and is still on the rise. I expect a surge towards 1.2508 and may breakout higher towards 1.3665. As it is on the weekly chart above, only a long position looks more ideal and can be recommended towards 1.2508. On Friday last week, the price went above 1.2220 with a big green candle and chances of continuing upwards are almost 100%, however, in the mean time, I'm waiting for a pullback to the lower side to pick a low risk buy position.
Technical Levels
Resistance levels
R1: 1.2048
R2: 1.2084
R3: 1.2144
Pivot
1.2025
Support Levels
S1: 1.1905
S2: 1.1965
S3: 1.1988
Trade Signal
Rebuy Eur towards 1.2508

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Imelda Maseno
Analyst of «FreshForex» company
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