In line with the Thursday’s analysis, Eur bounced off from the support zone 1.1893-1.1862, rallied on the higher ranges but did not reach my take profit fixed at 1.2066. Today, I expect the bearish movements that began few hours to the close of the Friday’s candle to continue bearish towards the above zone. If went long within this zone, you leave this position open, if not, wait for the price to retrace back to this zone where you should place a pending buy limit order with your stop loss below 1.1831 and take profit at 1.2066. As it is, its good to remain flat and wait for a rejection from 1.1893-1.1862 to buy Eur towards 1.2066.
Technical levels:
Resistance levels
R1: 1.1996
R2: 1.2102
R3: 1.2275
Pivot
1.1929
Support Levels
S1: 1.1582
S2: 1.1755
S3: 1.1823
Trade Signal.
Place a pending buy limit order around 1.1893-1.1862
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