05 февраля 2018, EUR/USD
Technical Observation:
Eur is currently trading with an increasing bullish momentum. For almost two months, this pair has been rallying up wards but is currently approaching a key resistance level 1.2508. Unless a clear breakout above this weekly resistance is seen, I expect a bounce from it to pick a short position, while if the price should break above, then I expect a surge towards 1.3665 or even higher. As it is on the weekly chart, its good to remain flat and wait for a break above 1.2508 to pick a long position towards 1.3665.
Technical Levels
Resistance levels
R1: 1.2542 R2: 1.2627 R3: 1.2816 Pivot
1.2438
Support Levels
S1: 1.2061 S2: 1.225 S3: 1.2353
Trade Signal Wait for a break above 1.2508 to pick a long position towards 1.3665
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