Still short towards 1.1465 | 01 November 2017
01 November 2017, EUR/USD
Technical Observation:
Since the beginning of this week, nothing has changed much, Eur is still pulling back slightly to the upper side despite the massive drop seen last week. I expect this pullback to be a mere pullback and should not go above 1.1727, where I'll be looking for a short position. As it is on the weekly chart above, only a short position can be recommended towards 1.1451 where I'll be looking for a buy position. Should the price descend below 1.1451, then I expect further drop in price towards 1.0480.
Technical Levels
Resistance levels
R1: 1.1773
R2: 1.1936
R3: 1.2199
Pivot
1.1673
Support Levels
S1: 1.1148
S2: 1.1411
S3: 1.151
Trade Signal
Still short towards 1.1465
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.
