Long EUR towards 1.1144 | 15 May 2017
15 May 2017, EUR/USD
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
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.
