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Wait and buy Eur around 1.1459 towards 1.2555.

Wait and buy Eur around 1.1459 towards 1.2555. | 16 August 2017

16 August 2017, EUR/USD

Wait and buy Eur around 1.1459 towards 1.2555.

Technical levels:

Eur continues to plummet and is currently below the short term support line 1.1714. I expect the previous day's break below 1.1714 to be the contininuation of a retracement rally towards 1.1459 where I've placed a pending buy limit order. That said, today, I expect further plummetion towards my buy area 1.1459. I expect a rejection from this line to buy Eur towards 1.2558. On the weekly chart above, sell positions seems more ideal and can be recommended especially while the price is still above 1.1459.

Technical Levels

Resistance levels

R3:1.18832

R2:1.18341

R1:1.18021

Pivot

1.1758

Support Levels

S1:1.17210

S2:1.16719

S3:1.16399

Trade Signal

Wait and buy Eur around 1.1459 towards 1.2555.

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Imelda Maseno
Analyst of «FreshForex» company
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