Forex Trading EVO - EUR/USD Technical - 07/April

By Praful Patat

EURUSD tested trend line on daily chart. Break of 1.4349 resistance further going up side toward 1.4469. In EURUSD strong support is 1.4248 if break of this support, going down side toward 1.4150 next target. EURUSD touched 127.2% extension at 1.4349 of 1.4247 to 1.3856, 161.8% at 1.4469 which is also 161.8% of 1.3863 to 1.2873. If EURUSD not break of 1.4349 resistance then retrace1.4224, 1.4146 area and break of 1.4349, further going up side toward next extension at 1.4469. EURUSD backed from Fib No. 50.0% at 1.4057 from 1.3856 to 1.4246, extension 127.2% at 1.4347, 161.8% at 1.4478 still in progress.

Strategy: EURUSD buy from support or sell from resistance.

New High:  1.4350, 1.4410, 1.4401.

New Low:  1.4200, 1.4270, 1.4261.

Pivot Point: R3-1.4436, R2-1.4382, R1-1.4349, PP-1.4296, S1-1.4242, S2-1.4209, S3-1.4156.