Long EUR towards 1.1139 | 08 May 2017

08 May 2017, EUR/USD

Technical Observation:

Recently, EUR retraced towards the just broken resistance line 1.0959 opening my Buy limit order placed at 1.0952 and now we’re in a long position and still holding. On the 4 Hour chart above, I still expect a bullish move towards 1.1139. This upward move is more ideal but if the price can pull back towards 1.0959, then this second retracement could the best to be bought. My Advice, if you went long following the first retracement leave this positions, but if the price retrace for the second time to this breakout line, then long EUR with SL below 1.0950 and TP fixed at 1.1139.

Technical levels:

Resistance levels

R1:1.1002

R2:1.1007

R3: 1.1021

Pivot Point

1.0994

Support Levels

S1:1.0967

S2:1.098

S3: 1.0989

Trade Signal Long EUR towards 1.1139

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Imelda Maseno
Analyst of «FreshForex» company
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