Forex Technical Analysis: Trend potential – Long EUR now

EURUSD – Up

Long EUR now

Technical observation

On the 4H chart above, EUR/USD pulled back downwards yesterday to the resistance zone 1.1681-1.1670 where I’m looking for a buy position. Price bounced from the 4hour support zone and is currently rising towards the resistance 1.1824.I expect a rise to 1.1824 and a breakout above it for further bullish momentum towards 1.1990 or even further up to 1.2134.Im looking to long the pair now within the zone with my ideal target at 1.1824 and stop loss slightly below 1.1670.On your way upwards the key lines to look for are, 1.1824, 1.1990, 1.2134 and 1.2422, short position may only be advisable below 1.1681-1.1670.

Technical levels

Resistance levels

R1.1.1772

R2.1.1778

R3.1.1796

Pivot

1.1761

Support levels

S1.1.1754

S2.1.1743

S3.1.1726

Trade signal

Long EUR now with your take profit at 1.1824 and stop loss slightly below 1.1670.

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

Long EUR now

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