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Wait and buy Eur around 1.1497 towards 1.2540.

Wait and buy Eur around 1.1497 towards 1.2540. | 23 August 2017

23 August 2017, EUR/USD

Wait and buy Eur around 1.1497 towards 1.2540.
Technical Observation
Still, nothing has changed much in this pair. I expected a retracement rally towards 1.1497, but as it appears, Eur could still consolidate before eventually heading low. The best place to pick a long position is around 1.1497 towards 1.2540, if 1.1497 is broken, then a confirmation that this break below is genuine will be required. In this case, another break below 1.1292 will be the confirmation that the price is heading short towards 1.0476. If the recent weekly highest high ( 1.1909) can be broken, then I expect a rise towards 1.2540.
Technical levels:
Resistance levels
R31.20196
R21.19291
R11.18430
Pivot
1.17525
Support Levels
S11.16664
S21.15759
S31.14898
Trade Signal
Wait and buy Eur around 1.1497 towards 1.2540.

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Imelda Maseno
Analyst of «FreshForex» company
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