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Retest of "Mirror" Support on EUR/USD

Mirror Support on EUR/USD

The bullish sentiment is prevailing on the EUR/USD currency pair. The current technical pattern signals the further growth of the euro. Today, the EUR/USD quotes have held the "mirror" support level of 1.13700 and have been growing again. Dovish comments by the Fed Chairman put pressure on the US dollar. At the moment, the trading instrument is close to the round level of 1.14000. We recommend paying attention to this situation.

If the price fixes above the 1.14000 mark, it is necessary to look for entry points to the market to open long positions. The immediate goal for profit taking is the level of 1.14400. The movement is tending to 1.14750-1.15000. When tracking a position, we recommend using a trailing stop.

by JustMarkets 2019.02.27

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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