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Re buy EURUSD at (1.2374-1.2363)

Re buy EURUSD at (1.2374-1.2363) | 06 February 2018

06 February 2018, EUR/USD

Re buy EURUSD at (1.2374-1.2363)

Technical observation

On the 4H chart above,EUR is currently retracing to a key support zone (1.2374-1.2363),I expect a rejection of the pair from the zone and a rise in price towards 1.2512 and even a possible break out above 1.2512 .I’m waiting to re buy EURUSD with my take profit at 1.2512 and stop loss at1.2323,if price breaks below the support zone then I’ll wait for a retracement to it to confirm w bearish move before I enter short positions with my target at 1.2194 and 1.1971.right now as long as the support zone protects the upper side, only long positions look ideal above (1.2374-1.2363).

Technical levels

Resistance levels

R1.1.2381

R2.1.2392

R3.1.2415

Pivot

1.2369

Support levels

S1.1.2358

S2.1.2344

S3.1.2321

Trade signal

Rebuy EURUSD at (1.2374-1.2363) with your take profit at 1.2512 and stop loss at 1.2323.

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Imelda Maseno
Analyst of «FreshForex» company
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