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Long

Long | 05 September 2017

05 September 2017, EUR/USD

Long
Technical Observation:
Eur is currently trading below it's weekly pivot line 1.19179, I expect a breakout above this pivot line to push the price towards 1.2162. On the way upwards, other than the pivot line, another key resistance line can be seen around 1.2006 and 1.2068, if these two are broken, then this will be a confirmation that the price could rise towards 1.2162 or even towards 1.2468. A little downward movements may be seen but this are mere retracements towards the support zone 1.1720-1.1457, if such a move is observed, then within this zone is the best place to buy Eur.
Technical levels:
Resistance levels
R3:1.22601
R2:1.21653
R1:1.20127
Pivot
1.19179
Support Levels
S1:1.17653
S2:1.16705
S3:1.15179
Trade Signal
Remain long towards1.2162. Conservative traders can wait and buy Eur within the zone 1.1720-1.1457.

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Imelda Maseno
Analyst of «FreshForex» company
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