Forex Trading EVO - EUR/USD Technical - 08/April

By Praful Patat

EURUSD is continues going up side toward 1.4469 extension also forming triangle on 1 hour chart. EURUSD hit 127.2% extension at 1.4402, 161.8% at 1.4472. In EURUSD there are many resistance between .4435-1.4485 area, possibility to back from this area. 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. 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 sell at 1.4400-1.4470 area target 120-180 pip with stop loss 1.4505

New High:  1.4322, 1.4370, 1.4355.

New Low:  1.4227, 1.4275, 1.4260.

Pivot Point: R3-1.4390, R2-1.4353, R1-1.4331, PP-1.4295, S1-1.4259, S2-1.4236, S3-1.4200.