Position traders should wait and buy Eur around 1.1459 | 17 August 2017

Technical Observation

Recently, Eur recovered slight to the upper side and even ended up above 1.1714. I still expect further recovery to the upper side and even a move towards the weekly resistance line 1.2558. This is from bullish point of view, if the price gets back below 1.1714, then we expect a drop towards 1.1459. On the weekly chart above, the best place to long Eur is around 1.1459 with a take profit fixed at 1.2558 and stop loss below 1.1305.

Technical levels:

Resistance levels

R3:1.18842

R2:1.18332

R1:1.18032

Pivot

1.17541

Support Levels

S1:1.17215

S2:1.16722

S3:1.16400

Trade Signal

Position traders should wait and buy Eur around 1.1459