Forex Technical Analysis: Trend potential – We’re flat

Posted by
EURUSD – Up

We're flat

Technical observation

EUR/USD is on an increasing bullish momentum and I expect a loss of this movement within the resistance zone 1.1853-1.1819 to pick short positions within or around it with my ideal target at 1.1539 and stop loss around 1.1967.Should there be a clear breach above 1.1853-1.1819 with a big green candle, wait for a correction to it confirming possible bullish movement of price before you pick long positions towards the key line 1.2183. Right now, I’ll remain flat and wait for the rise to 1.1853-1.1819 to sell this pair. Only short positions can be recommended on the daily chart above within 1.1853-1.1819 towards 1.1539.

Technical levels

Resistance levels

R1.1.1552

R2.1.1587

R3.1.1667

Pivot

1.1516

Support levels

S1.1.1472

S2.1.1428

S3.1.1348

Trade signal

Remain flat.

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

We're flat

More trading assets here…

You may check other analytical reviews on FreshForex website. Source: freshforex.com.