Re-buy EUR around 1.0953-1.0939 towards 1.1139 | 05 May 2017
05 May 2017, EUR/USD
Technical Observation:
EUR is trading above it's daily pivot line 1.0901. Unless there's a clear bearish breach below this pivot line, a move towards 1.1139 may carry the day. On the 4 hour chart above, the rise above 1.0953-1.0939 signified a break above a key resistance zone, that said, I'm waiting for retracements to the just broken zone to re-buy EUR towards 1.1139. My advice, if you went following yesterday's forecast, leave this position open. If not, wait for retracements to 1.0953 to re buy EUR with ST below 1.0923 and TP fixed at 1.1139.
Technical levels:
Resistance levels
R2: 1.0954
R3: 1.1007
Pivot Point
1.0904
Support Levels
S1: 1.0796S2: 1.0849
S3: 1.086
Trade Signal
Re-buy EUR around 1.0953-1.0939 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.
