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Wait | 01 September 2017

01 September 2017, EUR/USD

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Technical Observations
Recently, Eur went up to the lows of 1.1820 but ended up closing above a short term resistance line 1.1876, this is a bullish sign, and unless the price gets back below 1.1876 with a big red candle, I expect a rise towards 1.22. From a wider point of view, Eur could plummet towards the zone 1.1678-1.1499 where I expect a buy position. On the daily chart above, this buy position seems more ideal but if you're a conservative trader, you could wait for a pullback towards the zone 1.1678-1.1499 to pick a long position towards 1.22
Technical levels:
Resistance levels
R31.20298
R21.19713
R11.19400
Pivot
1.18815
Support Levels
S11.18502
S21.17917
S31.17604
Trade Signal
Conservative traders should wait and buy Eur withing 1.1678-1.1499 towards 1.22

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Imelda Maseno
Analyst of «FreshForex» company
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