Forex Technical Analysis: Trend potential – Re buy EUR around (1.2242-1.2211)

EURUSD – Up

Re buy EUR around (1.2242-1.2211)

Technical observation

In the past few days, EUR has been declining steadily towards a key support zone (1.2242-1.2211), which was previously used as a support twice when price was moving up. I expect a rejection of it at the zone or around it to re buy the pair with my take profit at 1.2507 and stop loss around 1.2088.if price breaks above my take profit then I’ll wait for a correction of price to it before i continue long.In case there’s a clear breach of price below the zone, wait for a correction to it before you enter short positions. Right now only long positions can be advised around zone, (1.2242-1.2211) towards 1.2507.

Technical levels

Resistance levels

R1.1.2513

R2.1.2615

R3.1.2777

Pivot

1.2459

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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