Remain long towards 1.2611. | 12 September 2017

12 September 2017, EUR/USD

Remain long towards 1.2611.
Technical Observations
Eur is currently trading with an increasing bearish bias. This is just a retracement towards 1.1718 where I'll be looking to re-buy Eur towards my take profit set at 1.2611. According to the weekly chart above, Eur is very bullish and should continue moving further upwards. On the way upwards, key resistance lines include 1.2151, 1.2490 and ultimately 1.2611. If you went long immediately after the breakout above 1.1490, leave this position open, if not, then wait for a pullback towards 1.1718 to pick a long position towards 1.2611.
Technical levels:
Resistance levels
R31.20298
R21.19713
R11.19400
Pivot
1.1961
Support Levels
S11.18502
S21.17917
S31.17604
Trade Signal
Remain long towards 1.2611. Alternatively, you could wait for retracements towards 1.1718 to pick a long position towards 1.2611.

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Imelda Maseno
Analyst of «FreshForex» company
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