28 July 2017, EUR/USD
Technical Observation:
Recently, Eur pulled back lower and is still showing signs that it could plunge even further lower. This downward rally is a retracement phase of the previous rise in price towards 1.1454 where I've placed a pending buy limit order. Unless 1.1454 is clearly breached to the lower side with a big red candle, I expect a rejection from the weekly support line 1.1454 to pick a long positions towards the next key resistance line 1.2491. On the weekly chart above, long positions still looks ideal and can be recommended only if the price can retrace back to 1.1454.
Technical levels:
Resistance levels
R1: 1.1752