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Flat | 07 September 2017

07 September 2017, EUR/USD

Technical Observation:
Recently, a false breakout was seen when price broke out above the resistance zone 1.1923 but closed below it just before the end of the trading day. Unless the price breaks out again above 1.1923 with a big green candle, I expect a move towards the lower trend line and even break below it to continue short . On the way downwards, key support lines can be seen around 1.1877, 1.1857 and 1.1836. If the last support line is breached, then the price will likely continue downwards towards 1.1720. On the other way, if the price breakout above 1.1923, and close above it, then I'll be looking for buy position with my take profit at 1.1983.
Technical levels:
Resistance levels
R3:1.19902
R2:1.19702
R1:1.19426
Pivot
1.19226
Support Levels
S1:1.18950
S2:1.18750
S3:1.18474
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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