Remain long | 02 January 2018

02 January 2018, EUR/USD

Remain long

Technical Observation:
After two weeks or rising, Eur is still showing signs of rising even further. This week, and even in the next few weeks I expect a momentum towards the weekly resistance line 1.2476 or even higher. If you're not long already, you could wait for a pullback towards 1.19 then long Eur at the least risk. As it is on the weekly chart above, only a long position looks more ideal and can be recommended. But if the price can go below 1.1706, then this will be a good place to short Eur towards 1.1410.
Technical Levels
Resistance levels
R1: 1.2071
R2: 1.2138
R3: 1.2318
Pivot
1.1959
Support Levels
S1: 1.16
S2: 1.178
S3: 1.1892
Trade Signal
Remain long towards 1.2476

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Imelda Maseno
Analyst of «FreshForex» company
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