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Technical Analysis Based on Breakout – Long towards 1.3138

EURUSD – Up

Technical Observation: Eurusd has been oversold for sometimes now but is still above the weekly support line 1.1698. I’m patiently waiting for a buy signal above this support, but is the price can descend below it, then I expect a further decline towards 1.1481 where I’ll looking for a buy trade. As it is on the weekly chart above, only a buy position can be recommended towards 1.3138 or even higher. My advice, look for a buy position above 1.1698 with your take profit at 1.3138

Technical Levels

Resistance levels

R1: 1.1894

R2: 1.1967

R3: 1.2128

Pivot

1.1810

Support Levels

S1: 1.1486

S2: 1.1646

S3: 1.1733

Trade Signal

Long towards 1.3138

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