Wait for a correction to 1.1591-1.1506. | 27 August 2018
27 August 2018, EUR/USD
Technical observation
The pair on the chart above is on an upward trend, recently price broke below the supportive zone 1.1591-1.1506 but could not be contained then broke above it again. I expect a correction to the just mentioned zone followed by a rejection of price within it for possible bullish momentum towards the resistance key line 1.2422.As long as price remains above 1.1591-1.1506 only long positions can be recommended for the pair on the chart above. Long EUR/USD within 1.1591-1.1506 with your take profit at 1.2422 and stop loss slightly below 1.1506.Short positions may only be advisable below 1.1591-1.1506.
Technical levels
Resistance levels
R1.1.171
R2.1.1797
R3.1.2043
Pivot
1.1552
Support levels
S1.1.1464
S2.1.1306
S3.1.1061
Trade signal
Wait for a correction to 1.1591-1.1506.
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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.
