Eur Could decline towards 1.0443 | 06 July 2017
06 July 2017, EUR/USD
Technical Observation
For almost a week now, Eur has dropped almost 100pips and could drop even further. Unless 1.1448 is clearly breached to the upper side, I expect further decline in price towards 1.0443 and could break lower. A breakout above 1.1448 will mean waiting for a pullback to the just broken line to long Eur towards the weekly resistance line 1.2766. On the weekly chart above, I'm good to remain short, I may only consider a buy position on breaking above 1.1448.
Technical levels:
Resistance levels
R1: 1.1523R2: 1.1621
R3: 1.1895
Pivot
1.1348
Support Levels
S1: 1.0799S2: 1.1073
S3: 1.1249
Trade Signal
Eur Could decline towards 1.0443
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
