Eur could rise towards 1.2558 | 03 August 2017

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.