Technical Observation:
Recently, we got stopped out when the price gaped above a key short term resistant line109.17 and above a retracement line 109.71. I’m waiting for a second retest of this retracment line to re-buy the US Dollar towards 111.60. From the 4Hour chart above, if you didn’t go long from 109.71, its best and safe to wait for a second test of this line to go long. My advice, wait for a second test of 109.71 to go long with you SL slightly below 109.40 and TP at 111.60.
Technical levels:
Resistance levels
R1: 110.09
R2: 110.15
R3: 110.27
Pivot Point 110.04
Support Levels
S1: 109.81
S2: 109.92
S3: 109.98
Trade Signal Rebuy USD from 109.17 towards 111.60
Origin: FreshForex
