Eur Recovering | 07 July 2017
07 July 2017, EUR/USD
Technical Observation
Yesterday alone, Eur recovered almost 90% the value it lost earlier this week. Unless the weekly resistance line 1.1448 is clearly breached to the upper side with a big green candle, the upward rally seen yesterday is a mere knee jack reaction and should not breakout above 1.1448. I expect a rejection from 1.1448 to short Eur towards 1.1160 and lastly 1.0443. If this weekly resistance line is clearly broken, then I'll wait for a pullback to the just broken line to Eur towards the next weekly resistance line 1.2766.
Technical levels:
Resistance levels
R1: 1.1523R2: 1.1621
R3: 1.1895
Pivot
1.1349
Support Levels
S1: 1.0799S2: 1.1073
S3: 1.1249
Trade Signal
Pulling back upwards but still below 1.1448.
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.
