Forex Technical Analysis: Trend potential – Buy EUR within 1.1812-1.1774


Buy EUR within 1.1812-1.1774

Technical observation

EUR broke above a zone 1.1812-1.1774, then rallied upwards for some time before breaking down the same zone , however, it was not contained below the zone and ended up breaking above it again, right now, price is retracing to the just broken zone and I expect a rejection within it for possible upwards movements of price. My advice, buy a bounce within the above-mentioned zone with your take profit at 1.2354 and stop loss at 1.1624. In case of a clear breakout below the zone 1.1812-1.1774 with a big red candle, wait for a correction to it and a bounce before you sell EUR towards 1.1168.

Trade recommendation

Buy a bounce within the zone 1.1812-1.1774.

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