Technical Analysis Based on Breakout – Bulls are charged

EURUSD – Up Technical Observation: Eur is currently trading with an increasing bullish momentum. I expect a surge upwards and should break above 1.2470 towards 1.3319. On the weekly chart above, I still expect a momentum upwards, therefore, I’ll be keen to look for long positions. On the way upwards, the key lines to look for include 1.2745, 1.3020 and 1.32. If these lines are broken, then I expect a rise towards the resistance line 1.3319. At the moment, only a long position looks ideal and can be advised. Technical Levels Resistance levels R1: 1.2307 R2: 1.2415 R3: 1.2718 Pivot 1.2111 Support Levels S1: 1.1505 S2: 1.1808 S3: 1.2004 Trade Signal Rebuy eur
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