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Flat | 14 July 2017

14 July 2017, EUR/USD

Flat

Technical Observation

Nothing has changed much in this pair, the price is still rally around the weekly resistance line 1.1444 despite my expectation that it could either break clearly above or remain below it. On the weekly chart above, if the price can close below this weekly resistance line 1.1444 by the end of this week, then this will be the best place for day traders to short this pair towards 1.0520. A clear breakout above 1.1444 will mean waiting for a pullback to the just broken line to long Eur towards the next weekly resistance line 1.2558. As at the moment, my recommendations is that you should wait for a close below 1.1444 to short Eur or a clear breakout above 1.1444 to long Eur.

Technical levels:

Resistance levels

R1: 1.1457

R2: 1.1513
R3: 1.164
Pivot
1.1385
Support Levels
S1: 1.1129
S2: 1.1257
S3: 1.1329
Trade Signal
Day Trader should wait for a close below 1.1444 to short Eur towards 1.0520 or a breakout above 1.1444 to long Eur towards 1.2558

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Imelda Maseno
Analyst of «FreshForex» company
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