08 May 2017, EUR/USD
Technical Observation:
Recently, EUR retraced towards the just broken resistance line 1.0959 opening my Buy limit order placed at 1.0952 and now we’re in a long position and still holding. On the 4 Hour chart above, I still expect a bullish move towards 1.1139. This upward move is more ideal but if the price can pull back towards 1.0959, then this second retracement could the best to be bought. My Advice, if you went long following the first retracement leave this positions, but if the price retrace for the second time to this breakout line, then long EUR with SL below 1.0950 and TP fixed at 1.1139.
Technical levels:
Resistance levels
R1:1.1002
R2:1.1007
R3: 1.1021
Pivot Point
1.0994
Support Levels
S1:1.0967
S2:1.098
S3: 1.0989
Trade Signal Long EUR towards 1.1139