22 Januari 2018, EUR/USD
Technical observation
In the previous weeks weeks,EUR traded below a key resistance zone (1.1598-1.1464) then broke above it and retraced to it before continuing up. Currently price is rallying towards the zone and I expect s rejection at it to long EUR with my first take profit at 1.2745 and the next at 1.3439,I expect the line 1.2745 to be breached for price to achieve a bullish momentum towards 1.3439 or even further up. If price goes below the zone then it would be advisable you wait for a retracement to the it to confirm a bearish move before you enter short positions.
Technical levels
Resistance levels
R1.1.2305
R2.1.2393
R3.1.2552
Pivot
1.2235
Support levels
S1.1.2147
S2.1.2077
S3.1.1919
Trade signal
Wait for a retracement to the zone (1.1598-1.1464) then buy EUR with your take profit at 1.2745 and stop loss at 1.1464