Buy EURUSD | 12 Januari 2018

12 Januari 2018, EUR/USD

Buy EURUSDT

echnical observation

On the 4H chart above,EUR has been trading on an upward trend with two retracements at a key zone (1.2003-1.1992),price broke below the zone and was contained for a short time then broke above it with a big green candle. Currently price is rallying above the zone and I expect a rejection of price at it to buy EUR towards 1.2087,if price breaks above this line then I expect a further rise of price. Incase price breaks below the zone ,wait for a retracement to it to confirm that price is going down before you sell EUR .

Technical levels

Resistance levels

R1.1.2055

R2.1.2058

R3.1.2066

Pivot

1.206

Support levels

S1.1.2047

S2.1.2042

S3.1.2034

Trade signal

Buy EUR within the key zone(1.2003-1.1992),with your take profit at 1.2078 and stop loss slightly below 1.1992

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Imelda Maseno
Analyst of «FreshForex» company
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