For the better parts of this week, Eur has been in a downtrend rallying even lower than I had stated in the other day's analysis. According to the weekly chart above, Eur is currently way below its weekly pivot line 1.1999 and unless there's a breakout above this pivot line, I expect a decline towards the supportive colored 1.1713-1.1465. I'm technically waiting for a rejection from this zone to pick a long position towards 1.2553. If this zone is breached to the lower side, then I may consider a short position towards 1.0454, or even lower.
Technical levels:
Resistance levels
R1: 1.213
R2: 1.2224
R3: 1.2449
Pivot
1.1999
Support Levels
S1: 1.1549
S2: 1.1774
S3: 1.1905
Trade Signal
Wait and Buy Eur within 1.1713-1.1465 with you take profit at 1.2553
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .