Buy EUR around 1.1148 towards 1.1448 | 29 May 2017
29 May 2017, EUR/USD
Technical Observation:
On the weekly chart above, the previous week's candle closed slightly below it's opening price and is a perfect indecision candle above a key weekly short term support 1.1146. This week, I expect minor bearish retracements towards this support to rebuy EUR towards 1.1448 where I've placed a pending sell limit. On the weekly chart above, expect pullbacks towards 1.1146 and then a spike 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
Buy EUR upon pulling back towards 1.1148
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.
