Wait for pullbacks towards 1.1459 | 19 July 2017
19 July 2017, EUR/USD
Technical Observations
Eur is currently trading above it's weekly pivot line 1.1444. Unless there's a clear breach below this pivot line with a big red candle, I expect a rise in price towards 1.2558. Past week, Eur traded on the higher ranges and even broke above a key weekly resistance line 1.1459. I'm waiting for a confirmation that this breakout is genuine and that bears are in full subdue. That said, I'm waiting for a minor pullback towards 1.1459 where I'll place a pending buy limit order. On the weekly chart, buying Eur looks more ideal especially upon a pullback towards 1.1459.
Technical levels:
Resistance levels
R1: 1.1515
R2: 1.1562
R3: 1.1681
Pivot
1.1444
Support Levels
S1: 1.1204
S2: 1.1323
S3: 1.1395
Trade Signal
Wait and buy Eur around 1.1459 towards 1.2558
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.
