Looking for long positions towards 115.14. | 16 August 2017

Technical Observation

For the past few days of this week, usd rallied on the higher ranges and has even recovered 100% the value it lost last week. This is a clear bullish increase in the market, and if the current weekly candle can close the way it is, then I expect a rise towards the upper resistance trendline and could rise further towards 115.14. On the weekly chart above, long positions can be recommended towards 115.14. How if the price can drop and close below the lower trendline, then A short position towards 106.13 will carry the day.

Technical levels:

Resistance levels

R1: 111.591

R2: 111.211

R3: 110.611

Pivot

110.248

Support Levels

S1: 109.645

S2: 109.264

S3: 108.672

Trade Signal

Looking for long positions towards 115.14.