Long EUR above 1.0930 towards 1.1142 | 03 May 2017
03 May 2017, EUR/USD
Technical Observation:
Recently, EUR failed to retrace towards the lower trend line, rather, it rallied on the higher ranges and even broke out above the short term resistancee zone 1.0930-1.0907. Unless there's a clear bearish breach below 1.0907, I expect a possible extension towards 1.0948 and then a clear bearish retracement to the just broken zone to long EUR. My advice, wait for a minor extension to the upper side and then a pullback to the just broken zone to buy EUR.
Technical levels:
Resistance levels
R2: 1.0946
R3: 1.0986
Pivot Point
1.0906
Support Levels
S1: 1.0826S2: 1.0866
S3: 1.088
Trade Signal
Long EUR above 1.0930 towards 1.1142
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.
