Wait for pullbacks towards 1.1459 | 19 July 2017

19 July 2017, EUR/USD

Wait for pullbacks towards 1.1459

Technical Observations

Eur is currently trading above it's weekly pivot line 1.1444. Unless there's a clear breach below this pivot line with a big red candle, I expect a rise in price towards 1.2558. Past week, Eur traded on the higher ranges and even broke above a key weekly resistance line 1.1459. I'm waiting for a confirmation that this breakout is genuine and that bears are in full subdue. That said, I'm waiting for a minor pullback towards 1.1459 where I'll place a pending buy limit order. On the weekly chart, buying Eur looks more ideal especially upon a pullback towards 1.1459.

Technical levels:

Resistance levels

R1: 1.1515

R2: 1.1562
R3: 1.1681
Pivot
1.1444
Support Levels
S1: 1.1204
S2: 1.1323
S3: 1.1395
Trade Signal
Wait and buy Eur around 1.1459 towards 1.2558

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Imelda Maseno
Analyst of «FreshForex» company
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