Long Eur now towards 1.2415 | 13 April 2018
13 April 2018, EUR/USD
Technical Observation:
After a drastic drop yesterday, Eur got supported buy a short term support line 1.2321. The previous day's candle is a potential buyers candle, therefore, unless the price closes below this line, especially with a big red candle, I expect a rise in momentum. Intraday traders should be looking for short term long positions with their take profit along the descending trend line, the top to the converging wedge. With that in mind, I advice looking for long positions with stop loss below the previous day's lowest low.
Technical Levels
Resistance levels
R1: 1.2367
R2: 1.2408
R3: 1.2483
Pivot
1.2333
Support Levels
S1: 1.2183
S2: 1.2258
S3: 1.2292
Trade Signal
Long Eur now towards 1.2415
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.
