Sunday, November 18, 2018

WHY WE ARE BUYING EUR USD NOW WITH TP AT 1.2450


On the chart above EUR/USD is on an upward trend. After breaking above a resistance zone 1.1454-1.1176, price retraced steadily to the just broken zone and was rejected within it before moving up. Right now it is within the zone and I expect nothing but a bounce within it for possible bullish momentum towards the resistance line 1.2450 and a possible breakout above it for a further rise in price towards the highest resistance 1.3456.

Trade recommendation

Buy EUR within 1.14 -1.12 with your take profit at 1.2450 and stop loss around 1.1000.

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