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Long Euro towards 1.1417

Long Euro towards 1.1417 | 18 May 2017

18 May 2017, EUR/USD

Long Euro towards 1.1417
Technical Observation:
Recently, EUR traded as forecasted and even hit my TP at 1.1141. Unless there's a clean bearish below 1.1141, I expect retracements to the just broken line to re-buy EUR towards 1.1417. On the 4 Hour chart above, buy positions seems more ideal and may be recommended but only up to the resistance line 1.1417. A breakout above this line will move the price further upwards. My, advice, re-buy EUR upon pulling back towards 1.1141.
Technical levels:
Resistance levels
R1: 1.1158
R2: 1.1203
R3: 1.1333
Pivot Point
1.0733
Support Levels
S1: 1.0812
S2: 1.0943
S3: 1.1028
Trade Signal
Long Euro towards 1.1417

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Imelda Maseno
Analyst of «FreshForex» company
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