Long EUR towards 1.1141 | 17 May 2017
17 May 2017, EUR/USD
Technical Observation:
Recently, EUR spiked above it's daily pivot 1.1055 and is still holding above it. Unless there's a clear bearish breach below this pivot, this pair could trade higher today. I expect a positive move towards 1.1141 where I've place my TP. On the 4 Hour chart above, this pair is bullish and may not retrace any time sooner. A breakout above 1.1141 may push the price further upwards but only after retracing to the just broken level.
Technical levels:
Resistance levels
R2: 1.1165
R3: 1.1275
Pivot Point
1.1055
Support Levels
S1: 1.0835S2: 1.0945
S3: 1.1013
Trade Signal
Long EUR 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.
