Long Euro above 1.06800 | 18 April 2017
18 April 2017, EUR/USD
Technical Observation:
Recently, Euro has been trading on the sideways within the rising wedge. From the 4 hour point of view, a key resistance can be seen around 1.06800 and a key support at 1.0646. My advice is to wait for a clear breakout above this resistance level and then a retest to get clear buy signal. Otherwise, the short term trend is bearish as long as the price is below 1.06800.
Technical levels:
Resistance levels
R1:1.0671
R2:1.0699
R3:1.0755
Pivot Point
1.0643
Support Levels
S1:1.0532
S2:1.0587
S3:1.0616
Trade Signal
Wait for a breakout above 1.06800, then a retest to long euro towards 1.07648 .
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.
