Technical Analysis Based on Breakout – Buy EURUSD around 1.2380

EURUSD – Up

Buy EURUSD around 1.2380

Technical observation

Following a bounce from the support line 1.1711, EURUSD has been in a constant up trend and is still showing signs of rising even higher. Previously the pair rose above the short term resistance line 1.1935 then retraced to it as a support and rose again, recently a pin bar closed on the 4H support line 1.2380 where price is currently at. I expect a b bullish momentum towards 1.2537 or even a break out above 1.2537.My advice, if you are not long already you could wait for a rejection from 1.2380 then long EUR with your take profit at 1.2517 and stop loss at 1.2334.

Technical levels

Resistance levels

R1.1.248

R2.1.2531

R3.1.2619

Pivot

1.2443

Support levels

S1.1.2267

S2.1.2355

S3.1.2392

Trade signal

Buy EUR at 1.2380 with your take profit at 1.2517 and stop loss at 1.2334.

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