Long Eur now towards 1.2436. | 29 December 2017
29 December 2017, EUR/USD
Technical Observation:
On the weekly chart above, a key Resistance line can be seen at 1.2436, while key support lines can be seen at 1.1716, 1.1450, and 1.0484. This month and even in the next few months, I expect price to trade within the range 1.2436-1.1459, Unless there's a clear breakout above or below this range, trading reversals looks more ideal As it on the weekly chart, I expect further rise towards 1.2436. On the way upwards, the key lines to look for include 1.2135, 1.2325 and 1.2436. If these lines are broken, then I expect a rise towards 1.3635.
Technical Levels
Resistance levels
R1: 1.1931
R2: 1.1999
R3: 1.2163
Pivot
1.1835
Support Levels
S1: 1.1505
S2: 1.167
S3: 1.1766
Trade Signal
Long Eur now towards 1.2436.
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.
