Technical Analysis Based on Breakout – Flat
EURUSD – Up Technical Observation: Still nothing significant has changed on Eur. Since yesterday, there was only a slight rally to the upper side but still below the monthly resistance zone 1.1986-1.1906. Unless there’s a clear bullish breakout above this zone with a big green candle, I remain reluctant to long Eur, instead, I’m waiting for a bounce from this zone to short Eur towards 1.0550. A breakout above this resistance zone will mean waiting for retracement to the just broken zone to buy Eur towards 1.3910. Technical Levels Resistance levels R1: 1.1986 R2: 1.2001 R3: 1.2307 Pivot 1.1950 Support Levels S1: 1.1083 S2: 1.1389 S3: 1.151 Trade Signal Flat
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