Price could rise towards 1.1448 | 07 June 2017

07 June 2017, EUR/USD

Technical Observation

EUR is currently trading within a rising wedge formation. I expect a breakout below this wedge, to short EUR towards the support line 1.1167. A break below this support line may extend lower towards 1.1083. At the moment, unless there's a clear bearish breach below 1.1245 with a big red candle, I expect a rise towards the weekly resistance line 1.1448. On the 4 Hour chart above, buy positions seems more ideal.

Technical levels:

Resistance levels

R1: 1.1295

R2: 1.1311

R3: 1.1355

Pivot Point

1.1268

Support Levels

S1: 1.118

S2: 1.1224

S3: 1.1251

Trade Signal

Price could rise 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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