Flat, | 28 November 2017
28 November 2017, EUR/USD
Technical Observation:
Eur is still struggling along a monthly resistance zone 1.1993-1.1901. This is a key support zone in 2003, 2005, and 2010. Now that the price has broken below this zone, this zone should act as a key resistance as I said earlier. Unless there's a clear breakout above it with a big green candle, I expect a bounce from this zone to short Eur towards 1.0510. This position is very good for long term traders, with a fixed take profit at 1.0510. If the price should breakout above 1.1993, then further rise towards 1.3825 is expected.
Technical Levels
Resistance levels
R1: 1.1816
R2: 1.2001
R3: 1.2307
Pivot
1.1695
Support Levels
S1: 1.1083
S2: 1.1389
S3: 1.151
Trade Signal
Flat, but waiting for a sell signal.
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.
