Remain short towards 1.1457 | 04 September 2017
04 September 2017, EUR/USD
Technical Observations
After a sharp decline on Friday, Eur is showing signs it could decline even further. This is retracement to the lower side towards 1.1457, on the way downwards, key lines can be seen around 1.1720, 1.1614, and 1.1457. If the last resistance line is broken, then Eur could plummet further towards 1.0477. However, should the price get rejected from the above lines, then I'll pick a buy position especially around 1.1457 with my take profit fixed 1.2161. On the daily chart above, I expect further bearish retracement to the colored zone to pick a buy position.
Technical levels:
Resistance levels
R31.20298
R21.19713
R11.19400
Pivot
1.1860
Support Levels
S11.18502
S21.17917
S31.17604
Trade Signal
Remain short towards 1.1457
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.
