flat | 08 November 2017
08 November 2017, EUR/USD
Technical Observation:
Nothing has changed much since the other day's analysis. I still expect Eur to plummet towards 1.1481 where I'll pick a long position towards 1.3138. According to the weekly chart above, I chose to remain flat and wait for a bounce from 1.1481 to pick a long position. If the price can breakout below 1.1481, then further bearish momentum towards 1.0468 is expected. But as it is, I'd rather wait for a bounce from 1.1481 to long Eur.
Resistance levels
R1: 1.1828
R2: 1.2006
R3: 1.2314
Pivot
1.1677
Support Levels
S1: 1.1088
S2: 1.1396
S3: 1.1523
Trade Signal
flat
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.
