Long towards 1.1935 | 05 December 2017
05 December 2017, EUR/USD
Technical Observation:
Yesterday, Eur established a hourly support around the zone 1.1845-1.1834, and could not penetrate below it. Today, I expect Eur to trade within a tight range, not going above the hourly resistance 1.1939 or the hour support line 1.1836. A break out of this range will call for breakout trading depending on the direction of breakout. As it on the chart above, intraday traders should be more into buy position with a take profit at 1.1935, if the price breaks above this take profit, then further rise towards 1.20 is expected.
Technical Levels
Resistance levels
R1: 1.2012
R2: 1.2094
R3: 1.2326
Pivot
1.1865
Support Levels
S1: 1.1399
S2: 1.1631
S3: 1.178
Trade Signal
Long towards 1.1935
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.
