Remain long towards 1.2105 | 16 October 2017
16 October 2017, EUR/USD
Technical Observation
Recently, after a sharp drop in price Eur could not penetrate below this weekly support line 1.1757. I went long following the rejection this support line and is still holding onto this position. I expect that, this week, Eur should continue rising towards 1.2105 or even higher to 1.22. At the moment, only a long position can safely be recommended especially while the price is above 1.1757, if the price get below it, then a short position can be reconsidered.
Technical levels:
Resistance levels
R1: 1.1811
R2: 1.1886
R3: 1.2033
Pivot
1.174
Support Levels
S1: 1.1447
S2: 1.1594
S3: 1.1664
Trade Signal
Remain long towards 1.2105
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.
