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Place a pending buy limit order around 1.1459

Place a pending buy limit order around 1.1459 | 15 August 2017

15 August 2017, EUR/USD

Place a pending buy limit order around 1.1459

Technical Observation

Despite the bullish pin bar seen on the weekly chart last week, yesterday, Eur plummented slightly to the lowerside and may still plumment today. I expect this drop in price to be retracement move and could drop further towards the now weekly support line 1.1459. If the price can get to this support, then this will be the best place to pick a long position with a take profit at 1.2558. For risk management purposes, position traders should place a pending buy limit order around 1.1459.

Technical levels:

Resistance levels

R3:1.18832

R2:1.18341

R1:1.18021

Pivot

1.17532

Support Levels

S1:1.17210

S2:1.16719

S3:1.16399

Trade Signal

Place a pending buy limit order around 1.1459

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Imelda Maseno
Analyst of «FreshForex» company
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