Long Eur now towards 1.1824 | 24 August 2017
24 August 2017, EUR/USD
Technical Observation
Recently, Eur brokeout above a hourly resistance line 1.1793 with a big green candle, he price then pulled back to the same line imediatelay buty could not penetrate below. The price then rallied higher and has just retraced back to the same line, I expect a rejection from this line to long Eur towards 1.1824. On the hourly chart above, long position can be recommended for intraday traders around 1.1795 with a take profit at 1.1824 and stop loss slightly below 1.1785. If the support line 1.1793 is broken, then price could fall further towards 1.1748.
Technical levels:
Resistance levels
R31.19230
R21.18732
R11.18394
Pivot
1.17896
Support Levels
S11.17558
S21.17060
S31.16722
Trade Signal
Long Eur now towards 1.1824
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.
