Remain long towards 1.2476 | 20 October 2017
20 October 2017, EUR/USD
Technical Observation:
Earlier this week, Eur declined in price but failed to penetrate below the support line 1.1717. This is a bulls domination signal, and unless the price breaks below 1.1717 with a big red candle, I expect a rise towards 1.2476 or even higher. On the way upwards, key resistance lines can be seen around 1.1920, 1.2044 and 1.2280. If these lines are broken, then a rise towards 1.2476 will be the next ideal move. This is on the bulls side, if the price breaks below 1.1717, then a drop towards 1.1453 will be the next ideal move.
Technical Levels
Resistance levels
R1: 1.1824
R2: 1.1853
R3: 1.1928
Pivot
1.1778
Support Levels
S1: 1.1626
S2: 1.1701
S3: 1.174
Trade Signal
Remain long 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.
