27 февраля 2018, EUR/USD
Technical observation
In the recent past, EURUSD broke above a resistance zone (1.2265-1.2244), it rallied higher but was pulled back to the same zone twice .As long as this zone contains the price above it, we expect a possible bullish momentum towards 1.2505 and should breakout even higher. As it is on the daily chart above, should price close within (1.2265-1.2244), we’ll be looking for a low risk buy position with an ultimate target at 1.2505.If price closes below 1.2244, then I expect a decline towards 1.1955.In case of the breakout wait for a retracement to confirm bearish movement of price before you enter short positions towards 1.1955 or even lower to 1.1712.
Technical levels
Resistance levels
R1.1.2369
R2.1.2407
R3.1.25
Pivot
1.2314
Support levels
S1.1.2276
S2.1.2221
S3.1.2128
Trade signal
Wait for a close within (1.2265-1.2244) to buy this pair with an ultimate target tat 1.2505 or even higher.
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