Wait for a pullback into 1.0882 to rebuy EUR | 26 April 2017
26 April 2017, EUR/USD
Technical Observation:
At the begin of this trading week, Euro opened above it's pivot line (1.0703). It will continue to move on to the top but will likely face a resistance around 1.1141. From the Hourly chart above, the rise above the short term resistance zone 1.0866-1.0883 signifies a rise above a key short term zone. Now that the price is above it, I expect this zone to be a possible buy area towards 1.10. My advice, wait for a second test of this area to re-buy EUR towards 1.10. Your SL should be slightly below 1.0861 and TP fixed at 1.1141
Technical levels:
Resistance levels
R2: 1.0945
R3: 1.0953
Pivot Point
1.0938
Support Levels
S1: 1.0923S2: 1.093
S3: 1.0935
Trade Signal
Re-buy from 1.0855-1.0883 towards 1.1141
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.
