Look for short positions towards 1.1459. | 09 August 2017
09 August 2017, EUR/USD
Technical Observation
For the past few days, Eur declined in price and could still decline even further. This decline in price is a retracment to the lowerside towards the just broken weekly resistance line 1.1459. That said, I expect a decline in price and I've placed a pending buy limit order around 1.1459, with a stop loss slightly below 1.1311 and take profit still fixed at 1.2558. On the weekly chart above, sell positions still look more ideal epecially towards 1.1459, if this line can be broken, then I expect further decline towards 1.0520.
Technical levels:
Resistance levels
R1: 1.1882
R2: 1.199
R3: 1.2178
Pivot
1.1802
Support Levels
S1: 1.1427
S2: 1.1615
S3: 1.1694
Trade Signal
Look for short positions towards 1.1459.
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.
