Buy eur around 1.2004 | 04 January 2018
04 January 2018, EUR/USD
Technical Observation:
Yesterday, Eur decline steadily but is currently approaching a key support line 1.2004. While the price is above this support, I expect a bounce from it to pick a long position towards 1.2080 or even higher. Should the price break below it, then I'll wait for a pullback to the just broken line to short Eur towards 1.1930. My advice, buy eur from 1.2004, with your first take profit at 1.2080 and the next at the weekly resistance line 1.40. On the way upwards, the key line to look for include 1.2080, 1.2144, 1.2500 and 1.40.
Technical Levels
Resistance levels
R1: 1.2048
R2: 1.2084
R3: 1.2144
Pivot
1.2024
Support Levels
S1: 1.1905
S2: 1.1965
S3: 1.1988
Trade Signal
Buy eur around 1.2004 towards 1.2144.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
