08 Januari 2018, EUR/USD
Technical observation
For the past few days,EUR has been trading on an upward trend. Previously on 25th of August 2017,price broke above the key zone(1.1884-1.1859) then retraced to it thrice making it a key support zone. Price then broke below the zone and traded below it before it broke above the zone again on 27th of December last year, currently EUR is trading above the key zone(1.1884-1.1859) and I expect a pullback to the zone to long EUR with my take profit slightly above 1.2075.If price breaks below the key zone, wait for price to retrace to the zone then short EUR towards1.1582.
Technical levels
Resistance levels
R1.1.207
R2.1.2108
R3.1.217
Pivot point
1.2045
Support levels
S1.1.2007
S2.1.1982
S3.1.192
Trade signaL
wait for a retracement to the key zone (1.1884-1.1859) to long EUR with your take profit at 1.2075 and your stop loss at 1.1817.