Remain short towards 1.1715 and 1.1448 | 29 September 2017
29 September 2017, EUR/USD
Technical Observation
On the weekly chart, Eur failed to breakout above 1.2116, instead, the price got rejected from this line and is currently retreating to the lower side. This is just a retracement rally to the lower side towards 1.1448. On the way downwards, key a key support line can be seen at 1.1715, if this support is breached, then I expect a rally towards 1.1448, where there's a potential buy position. As at the moment, only a clear rejection from 1.1715 or a breakout above 1.2115 will call for a long position.
Technical levels:
Resistance levels
R1: 1.1784
R2: 1.179
R3: 1.1798
Pivot
1.1783
Support Levels
S1: 1.1764
S2: 1.1773
S3: 1.1776
Trade Signal
Remain short towards 1.1715 and 1.1448
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.
