Long Euro towards 1.1448 | 22 May 2017
22 May 2017, EUR/USD
Technical Observation:
Recently EUR has been rising but is currently approaching a key resistance line 1.1448. I expect a possible breakout above this resistance line and then a retracement to the just broken line to re-buy EUR towards 1.2766. Any rejection from 1.1448 will mean a bearish reversal; this being the case, I expect an move to the lower side. On the weekly chart above, I expect further rally to the upper side.
Technical levels:
Resistance levels
R1: 1.1155
R2: 1.1202
R3: 1.1289
Pivot Point
1.0777
Support Levels
S1: 1.0942
S2: 1.1029
S3: 1.1068
Trade Signal
Long Euro towards 1.1448
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.
