Wait for retracements to buy Eur | 21 July 2017

21 July 2017, EUR/USD

Wait for retracements to buy Eur

Technical Observations

From the weekly point of view, Eur has just broken a key resistance line 1.1459 and unless there's a clear bearish breach below this line, I expect a rise towards 1.2558. However, this position should not be executed just now, instead, conservative traders should wait for a pullback towards the just broken line 1.1459 to re-buy Eur towards 1.2558. Moreover, the price is way above it's weekly pivot line and may continue upwards . My advice, wait for a bearish retraction towards 1.149 to long eur towards 1.2558.

Technical levels:

Resistance levels

R1: 1.1701

R2: 1.177
R3: 1.1949
Pivot
1.1443
Support Levels
S1: 1.1231
S2: 1.1411
S3: 1.1522
Trade Signal
Day traders should wait and buy Eur around 1.1459 towards 1.2558.

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .