Rebuy eur around 1.2044 | 17 January 2018

17 January 2018, EUR/USD

Technical Observation:
Eur is making higher highs and higher lows day by day. The trend is very bullish and with the price above 1.2044, I expect a rally upwards, and even a break above 1.2470. On the way upwards, possible reversals lines to look for include 1.2470, 1.2745 and lastly 1.3319. If all these lines are breached, then a momentum towards 1.41 is expected. As it is on the weekly chart above, long positions looks more ideal and if you're not long already, you could wait and rebuy eur upon a a pullback towards 1.2044.
Technical Levels
Resistance levels
R1: 1.2307
R2: 1.2415
R3: 1.2718
Pivot
1.2112
Support Levels
S1: 1.1505
S2: 1.1808
S3: 1.2004
Trade Signal
Rebuy eur around 1.2044 with your take profit at 1.3319

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Imelda Maseno
Analyst of «FreshForex» company
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