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Re buy around (1.2219-1.2179)

Re buy around (1.2219-1.2179) | 19 February 2018

19 February 2018, EUR/USD

Re buy around (1.2219-1.2179)

Technical observation

EURUSD has been trading on an upward trend for the past days recently, while on this trend price retraced at a key support zone( 1.2219-1.2179) twice then went up to a key line 1.2553 . Currently price is rallying above the zone and I expect a correction and a rejection at it to rebuy the pair with my take profit at 1.2553 and stop loss at 1.2068.Incase price goes up and breaks above 1.2553 with a big green candle then I’ll wait for a retracement to it before I enter long positions.incase there’s a clear breakout below (1.2219-1.2179) with a big red candle then that would be the best time to short the pair after a correction to it.

Technical levels

Resistance levels

R1.1.2513

R2.1.2615

R3.1.2777

Pivot

1.2453

Support levels

S1.1.2129

S2.1.2291

S3.1.2351

Trade signal

Wait for a correction and a rejection at or around (1.2219-1.2179) then rebuy the pair with your take profit at 1.2553 and stop loss at 1.2068

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Imelda Maseno
Analyst of «FreshForex» company
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