Forex Technical Analysis: Trend potential – Wait for a correction to sell EUR.

EURUSD – Up

Wait for a correction to sell EUR.

Technical observation

EUR was rejected at the support 1.1313 and is currently trading around it, price is rising significantly towards the resistance 1.1430 and as long as it remains below this line I expect nothing but bearish movement of EUR. I’m waiting for the correction to 1.1430 and a rejection at it to pick short positions with my ideal target at 1.13131 and stop loss slightly above 1.1430.Should there be a clear breach above 1.1430, wait for a correction to it confirming possible bullish movement of EUR before you buy this pair. On your way upwards the key lines to look for include, 1.1523, 1.1648 and the highest key resistance line 1.1793.

Technical levels

Resistance levels

R1.1.1396

R2.1.1399

R3.1.1407

Pivot

1.1398

Support levels

S1.1.1388

S2.1.1384

S3.1.1377

Trade signal

Wait for a correction to 1.1430 to sell EUR.

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

Wait for a correction to sell EUR.

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