Technical Analysis Based on Breakout – Rebuy eur around 1.2044

EURUSD – Up Technical Observation: Eur is making higher highs and higher lows day by day. The trend is very bullish and with the price above 1.2044, I expect a rally upwards, and even a break above 1.2470. On the way upwards, possible reversals lines to look for include 1.2470, 1.2745 and lastly 1.3319. If all these lines are breached, then a momentum towards 1.41 is expected. As it is on the weekly chart above, long positions looks more ideal and if you’re not long already, you could wait and rebuy eur upon a a pullback towards 1.2044. Technical Levels Resistance levels R1: 1.2307 R2: 1.2415 R3: 1.2718 Pivot 1.2112 Support Levels S1: 1.1505 S2: 1.1808 S3: 1.2004 Trade Signal Rebuy eur around 1.2044 with your take profit at 1.3319
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