08 Marzo 2018, EUR/USD
Technical observation
EURUSD retraced at a support zone, (1.2215-1.2184) while on an upward trend, price then rose up to a key resistance line 1.2555 but could not break above it and was corrected twice to the zone but got rejected. Right now it is rallying above the zone and I expect a correction to it to re buy EUR with my take profit at 1.2555 and stop loss around 1.2090.in case of a breakout above 1.2555, wait for a correction to it before you continue long.If there’s a clear breakout below 1.2184 with a big red candle, wait for retracement to it to confirm bearish movement of price before you enter short positions.
Technical levels
Resistance levels
R1.1.2367
R2.1.2398
R3.1.2479
Pivot
1.2318
Support levels
S1.1.2287
S2.1.238
S3.1.2157
Trade signal
Remain flat and wait for a pull back to (1.2215-1.2184)