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Flat

Flat | 17 July 2017

17 July 2017, EUR/USD

Flat

Technical Observation

For the first time in almost two years now, that is since February 15th 2015, the price broke above the weekly resistance line 1.1458. This is a key resistance line on almost all the higher time frames and if the price can remain above it even a during the coming week, then this will be confirmation that a breakout has happened, I expect the price to rally further upwards 1.2558 but only after a pullback. This trade is very good both for day and position traders, and if the monthly chart can close above 1.1458, then Eur could go higher even during the coming month. But if the monthly candle close below 1.1458, then during the coming month, price could drop towards 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
flat

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Imelda Maseno
Analyst of «FreshForex» company
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