Forex Technical Analysis: Trend potential – Buy usd around 110.639


Buy usd around 110.639

Technical Observation:

Yesterday, US Dollar rallied higher and even went below a daily resistance line 110.639. While the price is above this line, I expect a surge to the upperside with an ideal take profit at 111.00. If this take profit is taken out, then the price will likely continue to the upperside withg a take profit at 118.00. Sell positions can only be recommended in case the price breaks below 110.639, in case of this break, then a rally to the lowerside is expected. Technical Levels Resistance levels

R1: 110.33

R2: 110.48
R3: 110.92
Support Levels
S1: 107.53
S2: 108.60
S3: 109.07
Trade Signal
Buy usd around 110.639

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