Two Support Levels for Long Positions | 28 March 2017

Daily chart: bulls have ADX trend support. However, considering horizontal Bollinger envelopes strong resistance level is at 1.2596 (upper Bollinger band and round psychological level of 1.2600). Bulls may face the next resistance level in region of 1.2690-1.2700. Should the first resistance level of 1.2596 be broken, we may consider entering long to 1.2690-1.2700.

Н4: support level is around 1.2506 (middle Bollinger band), it is a nice entry point for buying. Consider setting stop-loss order below 1.2427 (lower Bollinger band).

Н1: there is a valid support level at 1.2508 and another one around middle Bollinger band (1.2558)

Expectations: rise following price touching 1.2558 or 1.2505. Possible target is 1.2690 region.

Trading signals: consider entering long from 1.2558 or 1.2505 regions to 1.2690.