Long Euro towards 1.1417 | 18 May 2017
18 May 2017, EUR/USD
Technical Observation:
Recently, EUR traded as forecasted and even hit my TP at 1.1141. Unless there's a clean bearish below 1.1141, I expect retracements to the just broken line to re-buy EUR towards 1.1417. On the 4 Hour chart above, buy positions seems more ideal and may be recommended but only up to the resistance line 1.1417. A breakout above this line will move the price further upwards. My, advice, re-buy EUR upon pulling back towards 1.1141.
Technical levels:
Resistance levels
R2: 1.1203
R3: 1.1333
Pivot Point
1.0733
Support Levels
S1: 1.0812S2: 1.0943
S3: 1.1028
Trade Signal
Long Euro towards 1.1417
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.
