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Wait for a correction to rebuy

Wait for a correction to rebuy | 30 Marzo 2018

30 Marzo 2018, EUR/USD

Wait for a correction to rebuy

Technical observation

The pair on the daily chart above has been trading above a key zone (1.2243-1.2201) for the past days with four retracements to it.Currently price is rallying above it and I expect a correction to it for bullish movement of price towards 1.2555,yesterday’s candle could not reach the zone and I expect today’s candle to. You can buy EUR now or wait for to buy within the zone. If price breaks above 1.2555 remain long with EUR after a correction to it and in case there’s a clear breakout below (1.2243-1.22010 with a big red candle, wait for a pullback to the zone before you enter short positions.

Technical levels

Resistance levels

R1.1.2379

R2.1.2405

R3.1.2463

Pivot

1.2354

Support levels

S1.1.2322

S2.1.2291

S3.1.2233

Trade signal

Wait for a correction to (1.2243-1.2201) to rebuy EUR with your take profit at 1.2555 and stop loss around 1.2100

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Imelda Maseno
Analyst of «FreshForex» company
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