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Wait for a pullback to 1.1677-1.1667

Wait for a pullback to 1.1677-1.1667 | 24 July 2018

24 July 2018, EUR/USD

Wait for a pullback to 1.1677-1.1667

Technical observation

On the 4H chart above.EUR/USD broke above a resistance zone1.1675-1.1667 with a big green candle. Price then rallied up to a resistance line 1.1746 it was rejected and could not penetrate above it.It is now correcting to the just broken line and I expect a rejection of it within the line for possible bullish momentum towards 1.1746 and a breach above it for a further rise in price towards the resistance 1.1825.Wait for the pullback to 1.1677-1.1667 then long EUR within it with your ideal target at 1.1746 and stop loss slightly below 1.1667.In case of a breakout above 1.1746,wait for a correction to it the continue long.

Technical levels

Resistance levels

R1.1.1749

R2.1.1754

R3.1.1767

Pivot

1.1742

Support levels

S1.1.1737

S2.1.1729

S3.1.1717

Trade signal

Wait for the pullback to 1.1677-1.1667 to buy EUR within it with your take profit at 1.1746 and stop loss slightly below 1.1667.

Do you know against which currencies EUR is the most profitable?

Wait for a pullback to 1.1677-1.1667

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Imelda Maseno
Analyst of «FreshForex» company
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