Waiting for retracements towards 1.1459 | 18 Julio 2017

18 Julio 2017, EUR/USD

Waiting for retracements towards 1.1459

Technical Observations

Earlier today, Eur spiked higher following a bullish pin bar seen yesterday on the daily chart. I expect further rise upwards especially while the price remains above 1.1459, only a pullback below 1.1459 will call for a short a position, but as it is, I can only advocate for long positions. So far this week, Eur has remained above it's weekly pivot line 1.1443, and unless this pivot line is clearly broken with a red candle, I hold onto a bullish bias sentiment. On the weekly chart, I still expect a rise this week, then a retracement towards 1.1459 to long Eur towards 1.2558. A key resistance line can be seen around 1.1615 and 1.1721, if the price can clearly break above these two, then this will be a confirmation that price could rise towards 1.2558.

Technical levels:

Resistance levels

R1: 1.1515

R2: 1.1562
R3: 1.1681
Pivot
1.1443
Support Levels
S1: 1.1204
S2: 1.1323
S3: 1.1395
Trade Signal
Wait for a bearish retracement towards 1.1459 to buy Eur towards 1.2558

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.