Forex Technical Analysis: Trend potential – Place a pending sell limit around 1.12833. Take profit at 1.12010

EURUSD – Up

Place a pending sell limit around 1.12833. Take profit at 1.12010

Technical Observation

EURUSD is currently approaching a significant 4 hour resistance zone 1.12833-1.12762. This is a key zone and while the price remains below it we expect a possible momentum to the lowerside. Conservative trader should have their pending sell limit orders around the previous day;s highest high with stop losses slightly above this high. Take profits should be fixed at 1.12010. On its way to the lower side, the key lines to look for include 1.12400, 1.12270 and 1.12010. A break below the last target will push the price even lower towards 1.11.

Trade Signal.

Place a pending sell limit around 1.12833. Take profit at 1.12010

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