26 February 2018, EUR/USD
Technical observation
The general trend for the pair on the weekly chart above is upward. Price retraced at key support line 1.1596 before it went up above a resistance line 1.2242.Price then retraced back to it before proceeding up. Last week’s candle was a retracement to the support line and I expect a possible rejection of price for bullish movements towards 1.2759,I would advise you buy EURUSD now with your take profit at 1.2759 and stop loss around 1.2027.In case there’s a breakout above 1.2759,wait for a pullback to it before you rebuy EUR .Short positions can only be advised in case there’s a clear break out below 1.2242 with a big red candle .
Technical levels
Resistance levels
R1.1.2401
R2.1.2506
R3.1.2682
Pivot
1.233
Support levels
S1.1.2225
S2.1.2154
S3.1.1978
Trade signal
Buy EURUSD now with your take profit at 1.2759 and stop loss around 1.2027.
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