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Look for a long position towards 1.2778

Look for a long position towards 1.2778 | 02 October 2017

02 October 2017, EUR/USD

Look for a long position towards 1.2778
Technical Observation
After a sharp breakout above the zone 1.1762-1.1462, Eur is still struggling to sustain the break above this zone. Unless there's a clear break below 1.1762, I expect a rejection from this line to pick a long position towards 1.2778. If the price descend below 1.1762, then the price could plummet further towards 1.1462 which is a key buy line. Ideally, unless there's a clear breach below this zone, I'm only interested in a buy position; especially while the price is still above 1.1762, I'm only interested in a long position towards 1.2778. On the way upwards key lines can be seen around 1.2278 and 1.2535. If these lines are broken, then a rise towards 1.2778 will be the next move.
Technical levels:
Resistance levels
R1: 1.2035
R2: 1.2121
R3: 1.2295
Pivot
1.1948
Support Levels
S1: 1.1601
S2: 1.1775
S3: 1.1861
Trade Signal
Look for a long position towards 1.2778

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Imelda Maseno
Analyst of «FreshForex» company
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