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A rise towards 1.1453

A rise towards 1.1453 | 06 June 2017

06 June 2017, EUR/USD

A rise towards 1.1453
Technical Observation
Since the previous analysis, nothing has changed much, I still expect a rise towards the weekly resistance line 1.1453 and a possible breakout above to continue long towards 1.2796. If the price fails to penetrate above 1.1453, then a reversal towards 1.0474. That said, I choose to remain long with my TP at 1.1453. On the weekly chart above, its good to remain long. Alternatively, conservative traders should have a sell limit order at 1.1453 with SL above 1.1734.
Technical levels:
Resistance levels
R1: 1.1342
R2: 1.1402
R3: 1.1578
Pivot Point
1.1226
Support Levels
S1: 1.0874
S2: 1.105
S3: 1.1166
Trade Signal
Long EUR towards 1.1453

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Imelda Maseno
Analyst of «FreshForex» company
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