Flat for now | 16 November 2017
16 November 2017, EUR/USD
Technical Observation:
Recently, Eur rallied higher and even reached the highs of 1.1860, but is currently pulling back to the lower side. According to the hourly chart, the price just went below a key resistance line 1.1798, and while the price is still below this line, I expect further bearish pullback to the lower side towards 1.1469. On the way downwards, the key lines to look for include 1.1475, 1.1615 and 1.1707. If these lines are breached especially 1.1475, then further decline in price towards 1.0494 is expected.
Technical Levels
Resistance levels
R1: 1.1847
R2: 1.1897
R3: 1.203
Pivot
1.1758
Support Levels
S1: 1.1475
S2: 1.1615
S3: 1.1707
Trade Signal
Flat for now
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.
