Forex Technical Analysis: Trend potential – Buy around 1.2247

EURUSD – Up

Buy around 1.2247

Technical observation

Recently a strong rejection of price was seen was EURUSD tried to break below the support line 1.2247 but ended up above it.As long as this line protects the lower side we expect price to rally to the upper side towards 1.2752,or even further up if price breaks above 1.2752 towards 1.3994.9.I would advise you buy EURUDS now with your first ideal target at 1.2752 and the next at 1.3994.9 and your stop loss at 1.2111.If this potential buy place is breached to the lower side with a big red candle then that would be the best time to short the pair after a retracement to the broken line.

Technical levels

Resistance levels

R1.1.2417

R2.1.2581

R3.1.2851

Pivot

1.2311

Support levels

S1.1.2147

S2.1.2041

S3.1.1771

Trade signal

Buy EURUSD with your take profit at 1.2752 and stop loss at 1.2111

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