Long EUR towards 1.1144 | 15 May 2017

15 May 2017, EUR/USD

Long EUR towards 1.1144
Technical Observation
Recently EUR Spiked higher as I forecasted and is likely to rise even higher. I expect a breakout above the resistance line 1.0949, and then a retracement to the just broken line to re-buy EUR towards 1.1144. On the 4 hour chart above, bulls seems to have full control over the market and shorting EUR may not be recommended. My advice, either remain long or wait for a breakout above 1.0949 and then a retracement to long EUR towards 1.1144. Technical levels:
Resistance levels
R1: 1.1045
R2: 1.1048
R3: 1.1096
Pivot Point
1.0997
Support Levels
S1: 1.0943
S2: 1.0946
S3: 1.0994
Trade Signal
Long EUR towards 1.1144

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Imelda Maseno
Analyst of «FreshForex» company
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