Forex Technical Analysis: Trend potential – Buy EUR around (1.2211-1.2174)

EURUSD – Up

Buy EUR around (1.2211-1.2174)

Technical observation

On the daily chart above, EURUSD broke above a resistance zone (1.2211-1.2174) while on an upward trend. The pair then retraced thrice to the zone before continuing up to a key resistance line 1.2507, Price could not break above the line and so it got rejected and is currently rallying towards the zone (1.2211-1.2174).I expect a possible rejection of it at the zone to rebuy EUR with my take profit at 1.2507 and stop loss around 1.2088,In case there’s a clear breach of price below the support zone, wait for a correction to the zone before you enter short positions

Technical levels

Resistance levels

R1.1.2513

R2.1.2615

R3.1.2777

Pivot

1.2457

Support levels

S1.1.2129

S2.1.2291

S3.1.2351

Trade signal

Buy EURUSD around (1.2211-1.2174) with your take profit at 1.2507 and stop loss around 1.2088

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