Forex Technical Analysis: Trend potential – Buy EUR now within 1.1457-1.1380

EURUSD – Up

Buy EUR now within 1.1457-1.1380

Technical observation

On the weekly chart above, EUR/USD retraced to the support 1.1457-1.1380 and is currently rallying within it. I expect a rejection of price within the above mentioned zone to pick long positions with my take profit at 1.2456 and stop loss slightly below 1.1380.Should there be no rejection within the above mentioned zone but a clear breakout below it with a big red candle, wait for a pullback to the just broken zone to confirm bearish momentum of EUR before you pick short positions towards 1.0437.Right now buy EUR within 1.1457-1.1380 towards 1.2456.Only long positions look ideal and can be advisable on the weekly chart above.

Technical levels

Resistance levels

R1.1.1461

R2.1.1536

R3.1.169

Pivot

1.1382

Support levels

S1.1.1307

S2.1.1228

S3.1.1073

Trade signal

Buy EUR now within 1.1457-1.1380 with your take profit at 1.2456 and stop loss slightly below 1.1380.

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

Buy EUR now within 1.1457-1.1380

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