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Still very bullish

Still very bullish | 31 July 2017

31 July 2017, EUR/USD

Technical Observation

Recently, Eur made fresh weekly higher highs and even went above the recent highest high 1.1716. I have been waiting for a bearish retracement towards 1.1459 but as it appears, the price could even push higher without ever pulling back. If this is the case, then I expect a rise towards the monthly resistance line 1.1983. According to the weekly chart above, long positions seems more ideal and can be recommended while the price remains above 1.1459 and below 1.1983. A breakout above 1.1983 will require a confirmation that price is extending even higher.

Technical levels:

Resistance levels

R1: 1.1523

R2: 1.1621

R3: 1.1895

Pivot

1.1355

Support Levels

S1: 1.0799

S2: 1.1073
S3: 1.1249
Trade Signal
Look for long positions towards 1.1983

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Imelda Maseno
Analyst of «FreshForex» company
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