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Long Euro towards 1.0770

21 April 2017, EUR/USD

Long Euro towards 1.0770
Technical Observation:
Recently, the price retraced for the second time to the just broken retracement zone 1.0709-1.0677. From the above 4Hour chart, a long position is looming. Unless this equilibrium zone is clear breached to the lower side, that is below 1.0677, I'm long towards 1.0770. I will place my ST slightly below 1.0697 and my TP fixed at 1.0770. I may only reconsider short positions a upon a clear bearish breach below 1.0677.
Technical levels:
Resistance levels
R1: 1.0734
R2: 1.074
R3: 1.0758
Pivot Point
1.0722
Support Levels
S1: 1.0686
S2: 1.0704
S3: 1.0715
Trade Signal
Long Euro towards 1.0770

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Imelda Maseno
Analyst of «FreshForex» company
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