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Eur could reversal from 1.1448

Eur could reversal from 1.1448 | 03 July 2017

03 July 2017, EUR/USD

Technical Observation For the past week,Eur spiked upwards and even took-out my take profit set at the weekly resistance line 1.1448. On the weekly chart above, I'm waiting for a reversal from this line to short Eur towards 1.0443. A clear breakout above 1.1448 will mean waiting for a breakout above 1.1714 to confirm a bullish move towards 1.2766. From the same chart, short positions seems more ideal and can be recommended unless 1.1448 is not broken upwards.

Technical levels:

Resistance levels

R1: 1.1232

R2: 1.1269

R3: 1.1364

Pivot

1.1175

Support Levels

S1: 1.0987

S2: 1.1081

S3: 1.1137
Trade Signal
Wait for a reversal from 1.1448 to short Eur towards 1.0443

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Imelda Maseno
Analyst of «FreshForex» company
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