Long Eur towards 1.2460 | 28 December 2017

28 December 2017, EUR/USD

Technical Observation:
Almost two months ago, Eur was successfully supported by the weekly support zone 1.1456-1.1517. Since then Eur has been in a constant up trend and is still showing signs of rising even higher. I went long based on yesterday's forecast and is still holding on to this position. My expectations is that Eur should spike even higher towards the monthly resistance line 1.2480. As it is on the weekly chart above, a long position looks more ideal and can be advised. On the way upwards, the key lines to look for include 1.1995, 1.2005 and 1.2320, if these lines are breached, then a rise towards 1.2480 is expected.
Technical Levels
Resistance levels
R1: 1.1931
R2: 1.1999
R3: 1.2163
Pivot
1.1834
Support Levels
S1: 1.1505
S2: 1.167
S3: 1.1766
Trade Signal
Long Eur towards 1.2460

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Imelda Maseno
Analyst of «FreshForex» company
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