Bulls are charged | 16 January 2018
16 January 2018, EUR/USD
Technical Observation:
Eur is currently trading with an increasing bullish momentum. I expect a surge upwards and should break above 1.2470 towards 1.3319. On the weekly chart above, I still expect a momentum upwards, therefore, I'll be keen to look for long positions. On the way upwards, the key lines to look for include 1.2745, 1.3020 and 1.32. If these lines are broken, then I expect a rise towards the resistance line 1.3319. At the moment, only a long position looks ideal and can be advised.
Technical Levels
Resistance levels
R1: 1.2307
R2: 1.2415
R3: 1.2718
Pivot
1.2111
Support Levels
S1: 1.1505
S2: 1.1808
S3: 1.2004
Trade Signal
Rebuy eur
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.
