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Eur Recovering

Eur Recovering | 07 July 2017

07 July 2017, EUR/USD

Eur Recovering

Technical Observation

Yesterday alone, Eur recovered almost 90% the value it lost earlier this week. Unless the weekly resistance line 1.1448 is clearly breached to the upper side with a big green candle, the upward rally seen yesterday is a mere knee jack reaction and should not breakout above 1.1448. I expect a rejection from 1.1448 to short Eur towards 1.1160 and lastly 1.0443. If this weekly resistance line is clearly broken, then I'll wait for a pullback to the just broken line to Eur towards the next weekly resistance line 1.2766.
Technical levels:
Resistance levels
R1: 1.1523
R2: 1.1621
R3: 1.1895
Pivot
1.1349
Support Levels
S1: 1.0799
S2: 1.1073
S3: 1.1249

Trade Signal

Pulling back upwards but still below 1.1448.

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Imelda Maseno
Analyst of «FreshForex» company
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