Long with take profit at 1.2019 | 01 December 2017
01 December 2017, EUR/USD
Technical Observation:
According to the weekly chart above, after breaking above the zone 1.1721-1.1436, Eur pulled back within this zone but could not penetrate below it. Currently, Eur has been gaining value but is currently approaching a monthly resistance line 1.2019. Unless there's a clear breakout above this line, I expect a rise but only up to this line(monthly resistance line 1.2019). If this monthly resistance is broken, then further rise towards 1.2505 is expected. As it on the weekly chart, only buy position can be advised with a take profit at 1.2075.
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
Long with take profit at 1.2019
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.
