Still bullish towards 1.2554 | 04 August 2017
04 August 2017, EUR/USD
Technical Observations
Eur is currently trading slightly above it's daily pivot line 1.18641. Unless there's a breach below this pivot line with a big red candle, I expect a rise towards the weekly resistance line 1.2554. If the resistance is broken, then the price could rise higher towards the next key line 1.3595. On the weekly chart above, gbp is very bullish and therefore only buy positions can be recommended, however, if the price ca go below 1.1421, then I may reconsider a short term short position towards 1.0319.
Technical levels:
Resistance levels
R31.19608
R21.19271
R11.18978
Pivot
1.18641
Support Levels
S11.18348
S21.18011
S31.17718
Trade Signal
Still bullish 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.
