Remain long towards 1.2557 | 25 April 2018
25 April 2018, EUR/USD
Technical observation
Recently, after a sharp drop in price, EUR could not penetrate below the daily support zone 1.2217-1.2192 where previously price has constantly been rejected from. I went long following the rejection on this support zone and I’m still holding on to this position. I expect that this week, EUR should continue rising towards 1.2557 or even higher to the weekly resistance line 1.2878.At the moment only a long position can safely be recommended especially while the price is above 1.217-1.2192,if the price gets below it, then a short position can be considered after a retracement to the zone.
Technical levels
Resistance levels
R1.1.2345
R2.1.2401
R3.1.2505
Pivot: 1.2299
Support levels
S1.1.2241
S2.1.2194
S3.1.209
Trade signal
Remain long towards 1.2557
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.
