Wait for a clear rejection from 1.1164 to long EUR towards 1.1277 | 09 June 2017
09 June 2017, EUR/USD
Technical Observation
Despite the UK elections resultes, EUR declined only slightly to the lowerside but is currently rallying above a key 4 hour support line 1.1164. On the 4 our chart above, I expect a rejection from both the supportive trendline and the support line 1.1164 to long EUR towards 1.1277. My advice, unless there's a clear breach below 1.1164, long positions seems more ideal. Sell positions can only be recommended upon a clear breakout below the lower trendline towards 1.0648
Technical levels:
Resistance levels
R1: 1.1252R1:1.1298
R3: 1.1372
Pivot Point
1.1223
Support Levels
S1: 1.1074S2: 1.1148
S3: 1.1177
Trade Signal
Wait for a clear rejection from 1.1164 to long EUR towards 1.1277
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.
