Technical Observation:
Upon retracing towards my equilibrium zone 1.0697-1.0677, EUR traded incessantly to the upper side but is still within the short term resistance line 1.0737. I’m long towards 1.0777 unless this equilibrium zone is breached to the lower side, that is a breach below 1.0677. I may only reconsider short positions in case of a clear bearish break below 1.0677.
My advice, if you went long around 1.0697-1.0677, leave this position open but have your SL at 1.0674 and TP fixed at 1.0777.
Technical levels:
Resistance levels
R1: 1.076
R2: 1.0804
R3:1.0874
Pivot Point
1.0734
Support Levels
S1: 1.0592
S2: 1.0663
S3: 1.0689
Trade Signal
Long Euro towards 1.0777
Origin: FreshForex
