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Remain long towards 1.2105

Remain long towards 1.2105 | 16 October 2017

16 October 2017, EUR/USD

Remain long towards 1.2105

Technical Observation

Recently, after a sharp drop in price Eur could not penetrate below this weekly support line 1.1757. I went long following the rejection this support line and is still holding onto this position. I expect that, this week, Eur should continue rising towards 1.2105 or even higher to 1.22. At the moment, only a long position can safely be recommended especially while the price is above 1.1757, if the price get below it, then a short position can be reconsidered.

Technical levels:

Resistance levels

R1: 1.1811

R2: 1.1886
R3: 1.2033
Pivot
1.174
Support Levels
S1: 1.1447
S2: 1.1594
S3: 1.1664
Trade Signal
Remain long towards 1.2105

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Imelda Maseno
Analyst of «FreshForex» company
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