Waiting game | 25 July 2017
25 July 2017, EUR/USD
Technical Observation
Nothing has changed much since the other day's forecast. I still expect a decline in price towards the now support line 1.1481 to long Eur with my target still intact at weekly resistance line 1.2554. On the weekly chart above, long position still looks more ideal and can safely be recommended unless 1.1481 is clearly breached to the lower side with a big red candle, if this support line is not clearly broken, then I expect a rejection from this line to but Eur. At the moment, remain flat, temporarily and wait for this pullback.
Technical levels:
Resistance levels
R1: 1.1523
R2: 1.1621
R3: 1.1895
Pivot
1.1355
Support Levels
S1: 1.0799
S2: 1.1073
S3: 1.1249
Trade Signal
Wait for a pullback towards 1.1481 to bu Eur towards 1.2554
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.
