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: 1.1523
R2: 1.1621
R3: 1.1895
Pivot
1.1348
Support Levels
S1: 1.0799
S2: 1.1073
S3: 1.1249
Trade Signal
Eur Could decline towards 1.0443