Long EUR around 1.0841 towards 1.1139 | 28 April 2017
28 April 2017, EUR/USD
Technical Observation:
Recently, EUR entered into an expanding wedge and is currently bouncing off from the the wedge's diagonal trend line. I expect a possible bounce from this trendline to long EUR towards 1.0914. That said, if this pair can breakout below this trend line, I expect a bounce from the support line 1.0841 to re-buy EUR towards 1.0918. I will only reconsider sell positions in case of a clean breakout below 1.0841 and then a retest. My advice, buy along this trend line or around 1.0841-1.0837, your SL is either cases should be below the recent lowest low 1.0816.
Technical levels:
Resistance levels
R2: 1.0967
R3: 1.1048
Pivot Point
1.0885
Support Levels
S1: 1.0722S2: 1.0803
S3: 1.0837
Trade Signal
Long EUR around 1.0841 towards 1.1139
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.
