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Buy EUR around(1.2245-1.2159)

Buy EUR around(1.2245-1.2159) | 05 March 2018

05 March 2018, EUR/USD

Buy EUR around(1.2245-1.2159)

Technical observation

On the weekly chart above, EURUSD retraced at a support zone,(1.2245-1.2159) then rallied up to a key line 1.2555.Righ now price is correcting to (1.2245-1.2159) and I expect a rejection of it within or around the zone for bullish movement of price towards 1.2555 or even a breakout above 1.2555 for a further increase in price. I would advise you buy EUR within or a round the zone with your take profit at 1.2555 and stop loss around 1.1986.In case there’s a clear break out below 1.2159 with a big red candle then that would be the best time to short the pair with your ideal target around the key line 1.1730.

Technical levels

Resistance levels

R1.1.2399

R2.1.2478

R3.1.2679

Pivot

1.2277

Support levels

S1.1.2198

S2.1.2076

S3.1.1874

Trade signal

Buy EUR around or within ,(1.2245-1.2159) with your take profit at 1.2555 and stop loss around 1.1986.

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Imelda Maseno
Analyst of «FreshForex» company
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