Remain flat | 09 May 2017
09 May 2017, EUR/USD
Technical Observation
EUR is trading below it's daily pivot line 1.0946. Unless there's a clear bullish breach above this pivot line, a bearish move towards 1.0882 is expected. On the daily chart above, I expect a bearish rally towards my buy area marked by the powder-blue shading. In case of a breakout below this zone, I'll wait for a retracement to this zone to short EUR towards 1.0705. My advice, wait and buy within the buy area marked above.
Technical levels:
Resistance levels
R1: 1.0975R2: 1.1026
R3: 1.1107
Pivot Point
1.0946
Support Levels
S1: 1.0784
S2: 1.0865
S3: 1.0894
Trade Signal
Remain flat and BUY around 1.0882-1.0859 towards 1.1141
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.
