02 Maret 2018, EUR/USD
Technical observation
Yesterday, the pair on the daily chart above failed to be a clear breakout below a support zone instead it went down and retraced at a lower support zone (1.2209-1.2164),price could not penetrate below the zone and so it got rejected and is currently rallying up towards a resistance line 1.2505.I would advise you buy EUR now with your take profit at 1.2505 and stop loss around 1.2069.In case there’s a clear breakout below the zone with a big red candle, wait for a correction to confirm bearish movement of price before you enter short positions towards the key line 1.1935 or even lower to 1.1712 in case of a breakout below 1.1935
Resistance levels
R1.1.2369
R2.1.2407
R3.1.25
Pivot
1.2320
Support levels
S1.1.2276
S2.1.2221
S3.1.2128
Trade signal
Buy EUR now with your take profit at 1.2505 and stop loss around 1.2069.