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Wait for a correction to 1.1496 to buy EUR.

Wait for a correction to 1.1496 to buy EUR. | 31 January 2019

31 January 2019, EUR/USD

Wait for a correction to 1.1496 to buy EUR.

Technical observation

Yesterday, EUR corrected to the supportive zone 1.1417-1.1413, it was rejected within it before rising steadily towards the resistance 1.1496, price then broke above the key level and is currently rallying above it. I bought this pair yesterday within the zone and picked my profits at 1.1496.I expect a correction to the just broken level followed by a rejection at it for further bullish price rally towards 1.1569.You can wait for the pullback to the just broken line followed by a bounce at it to buy EUR with your take profit at 1.1569 and stop loss at 1.1475.On the hourly chart above only long positions look ideal and can be recommended.

Trade recommendation

Wait for a correction to 1.1496 to buy EUR.

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Imelda Maseno
Analyst of «FreshForex» company
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