A rise towards 1.1453 | 06 June 2017
06 June 2017, EUR/USD
Technical Observation
Since the previous analysis, nothing has changed much, I still expect a rise towards the weekly resistance line 1.1453 and a possible breakout above to continue long towards 1.2796. If the price fails to penetrate above 1.1453, then a reversal towards 1.0474. That said, I choose to remain long with my TP at 1.1453. On the weekly chart above, its good to remain long. Alternatively, conservative traders should have a sell limit order at 1.1453 with SL above 1.1734.
Technical levels:
Resistance levels
R1: 1.1342R2: 1.1402
R3: 1.1578
Pivot Point
1.1226
Support Levels
S1: 1.0874S2: 1.105
S3: 1.1166
Trade Signal
Long EUR towards 1.1453
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.
