Longed Eur from 1.1731 towards 1.2476 | 19 October 2017
19 October 2017, EUR/USD
Technical Observation:
Recently, Eur got supported from the weekly support line 1.1731 and is still pretty much above it. Yesterday, Eur pulled back slightly from this line and is still pretty much above this line. Unless there's a clear bearish breakout below this level, I expect a rise in price towards 1.2476, if the price breaks below 1.1731, then the price could drop further towards 1.1453 where we'll be looking for a buy position. As it is, only a buy position can safely be recommended with a take profit fixed at 1.2426.
Technical Levels
Resistance levels
R1: 1.1894
R2: 1.1967
R3: 1.2128
Pivot
1.1808
Support Levels
S1: 1.1486
S2: 1.1646
S3: 1.1733
Trade Signal
Longed Eur from 1.1731 towards 1.2476
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.
