05 March 2018, EUR/USD
Technical observation
On the weekly chart above, EURUSD retraced at a support zone,(1.2245-1.2159) then rallied up to a key line 1.2555.Righ now price is correcting to (1.2245-1.2159) and I expect a rejection of it within or around the zone for bullish movement of price towards 1.2555 or even a breakout above 1.2555 for a further increase in price. I would advise you buy EUR within or a round the zone with your take profit at 1.2555 and stop loss around 1.1986.In case there’s a clear break out below 1.2159 with a big red candle then that would be the best time to short the pair with your ideal target around the key line 1.1730.
Technical levels
Resistance levels
R1.1.2399
R2.1.2478
R3.1.2679
Pivot
1.2277
Support levels
S1.1.2198
S2.1.2076
S3.1.1874
Trade signal
Buy EUR around or within ,(1.2245-1.2159) with your take profit at 1.2555 and stop loss around 1.1986.
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