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Long EUR above 1.0930 towards 1.1142

Long EUR above 1.0930 towards 1.1142 | 03 May 2017

03 May 2017, EUR/USD

Long EUR above 1.0930 towards 1.1142
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
R1: 1.0929
R2: 1.0946
R3: 1.0986
Pivot Point
1.0906
Support Levels
S1: 1.0826
S2: 1.0866
S3: 1.088
Trade Signal
Long EUR above 1.0930 towards 1.1142

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Imelda Maseno
Analyst of «FreshForex» company
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