Re-buy EUR upon a breakout above 1.1448 | 23 May 2017

23 May 2017, EUR/USD

Technical Observation

EUR is currently trading above its weekly pivot 1.1114. Unless there's a clear a bearish breach below this pivot, I expect a positive move towards resistance line 1.1448 and may breakout above. Should this happen, I'll wait for retracements to the just broken resistance line to re-buy EUR towards 1.12766. On the weekly chart above, I expect further movements towards 1.1448.

Technical levels:

Resistance levels

R1:1.1306

R2: 1.1404

R3: 1.1693

Pivot Point

1.1114

Support Levels

S1: 1.0535

S2: 1.0824

S3: 1.1016

Trade Signal

Long EUR 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.

Anjara

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Imelda Maseno

Analyst of «FreshForex» company

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