Wait | 01 September 2017
01 September 2017, EUR/USD
Technical Observations
Recently, Eur went up to the lows of 1.1820 but ended up closing above a short term resistance line 1.1876, this is a bullish sign, and unless the price gets back below 1.1876 with a big red candle, I expect a rise towards 1.22. From a wider point of view, Eur could plummet towards the zone 1.1678-1.1499 where I expect a buy position. On the daily chart above, this buy position seems more ideal but if you're a conservative trader, you could wait for a pullback towards the zone 1.1678-1.1499 to pick a long position towards 1.22
Technical levels:
Resistance levels
R31.20298
R21.19713
R11.19400
Pivot
1.18815
Support Levels
S11.18502
S21.17917
S31.17604
Trade Signal
Conservative traders should wait and buy Eur withing 1.1678-1.1499 towards 1.22
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.
