Forex Technical Analysis: Trend potential – Remain long

EURUSD – Up

Remain long

Technical observation

EUR/USD is on an upward trend, price retraced to the key support zone 1.1597-1.1513 and could not penetrate below it, it was rejected then went up last week and is still rising towards the resistance 1.2422.I expect a rise to 1.2422 and a clear breakout above it with a big green candle for a further rise in price. If you bought the pair last week, remain long with your ideal target still at 1.2422 and stop loss slightly below 1.1513.If you had not traded the pair yet, you can still long EUR now with your take profit at 1.2422.In case of a break below 1.1513,wait for a correction to it before you short EUR.

Technical levels

Resistance levels

R1.1.1786

R2.1.185

R3.1.2021

Pivot

1.168

Support levels

S1.1.1616

S2.1.151

S3.1.134

Trade signal

Remain long

Do you know against which currencies EUR is the most profitable?

Remain long

More trading assets here…

You may check other analytical reviews on FreshForex website. Source: freshforex.com.

Leave a Reply