Flat | 02 November 2017
02 November 2017, EUR/USD
Technical Observation:
Eur continues to pullback upwards, despite my previous analysis that it could drop towards 1.1455. As it is on the weekly chart above, I expect a rise towards 1.1794, where I;ll be looking for a short position with my target at the weekly support line 1.1455. If the price should breakout below 1.1455, then further drop in price towards 1.0406 is expected. My advice, either wait and pick a short position around 1.1754, or wait and buy Eur upon a rejection from the support line 1.1455 with an ultimate take profit at 1.2400.
Technical Levels
Resistance levels
R1: 1.1671
R2: 1.1693
R3: 1.175
Pivot
1.1636
Support Levels
S1: 1.1523
S2: 1.158
S3: 1.1615
Trade Signal
Wait and Buy Eur around 1.1455 towards 1.2400
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.
