Flat | 02 May 2017
02 May 2017, EUR/USD
Technical Observation:
For the past three trading days, EUR has been trading sideways, contained within the levels 1.0841-1.0949. On the 4 hour chart, there's a possible triangular formation in progress, however, instead of going long/ short, i choose to remain flat and only long EUR upon retracing towards the lower trend line or upon a clear breakout and then retracement to the just broken resistance zone 1.0907-1.0929. My advice, remain flat and only buy above 1.0929 or upon a clear rejection from the lower trend line.
Technical levels:
Resistance levels
R2: 1.0917
R3: 1.0924
Pivot Point
1.091
Support Levels
S1: 1.0895S2: 1.0902
S3: 1.0907
Trade Signal
Flat
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.
