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Still bullish towards 1.2554

Still bullish towards 1.2554 | 04 August 2017

04 August 2017, EUR/USD

Technical Observations

Eur is currently trading slightly above it's daily pivot line 1.18641. Unless there's a breach below this pivot line with a big red candle, I expect a rise towards the weekly resistance line 1.2554. If the resistance is broken, then the price could rise higher towards the next key line 1.3595. On the weekly chart above, gbp is very bullish and therefore only buy positions can be recommended, however, if the price ca go below 1.1421, then I may reconsider a short term short position towards 1.0319.

Technical levels:

Resistance levels

R31.19608

R21.19271

R11.18978

Pivot

1.18641

Support Levels

S11.18348

S21.18011

S31.17718

Trade Signal

Still bullish towards 1.2554

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Imelda Maseno
Analyst of «FreshForex» company
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