23 февраля 2018, EUR/USD
Technical observation
On the daily chart above,EURUSD retraced to a support zone (1.2241-1.2211) while on an upward trend then moved up to a key line 1.2507.Yesterday while correcting to the zone the pair could not penetrate below the zone and so it was rejected around the zone and not within it.I expect possible bullish movement of price towards 1.2507 and a possible breakout above 1.2507.I would advise you buy EUR now with your take profit around 1.2507 and stop loss around 1.2088.In case there’s a clear break out below (1.2242-1.2211) wait for a correction to the zone to confirm bearish movement of price before you enter short positions.
Technical levels
Resistance levels
R1.1.2513
R2.1.2615
R3.1.2777
Pivot
1.2461
Support levels
S1.1.2129
S2.1.2291
S3.1.2351
Trade signal
Buy EURUSD now with your take profit at 1.2507 and stop loss around 1.2088
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