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Flat | 10 July 2017

10 July 2017, EUR/USD

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Technical Observation

On the weekly chart above, 1.1448 is a key weekly resistance line and unless it is broken with a big green candle, I expect a rejection from this line to short Eur towards 1.0520. A breakout above 1.1448 will mean waiting for a pullback to the just broken line to long Eur towards the next resistance line 1.2558. As of last week, I've not got any clear direction from this point, I'm still waiting for a clear rejection to short Eur with my Stop loss slightly above 1.1755 and take profit at 1.0520. If a clear rejection is seen, then then the key lines to check for on the lower side include 1.1150, 1.0889 and 1.0520.

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
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Imelda Maseno
Analyst of «FreshForex» company
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