03 August 2017, EUR/USD
Technical Observations
Nothing has changed much since the previous day's analysis. Eur is still slightly below it's daily pivot line 1.18530 and should breakout above it. If this should happen, then I expect a bullish move towards the weekly resistance line 1.2558. If this resistance line is broken upwards then the price could rise even higher. A key weekly support line can be seen around 1.1459, if the price can pullback to this line, then this will be the best place to long Eur with a stop loss slightly below 1.1354, and take profit fixed at 1.2558.
Technical levels:
Resistance levels
R1: 1.20304
R2: 1.19708
R3: 1.19126
Pivot
1.18530
Support Levels
S1: 1.17948
S2: 1.17352
S3: 1.16770
Trade Signal
Position traders should place a pending buy limit order around 1.1459.