A rejection from 1.1448 | 04 July 2017
04 July 2017, EUR/USD
Technical Observation
Eur is currently trading slightly below it's daily pivot line 1.1347 but below a key weekly resistance line 1.1448. Unless 1.1448 is clearly breached to the upper side with a big green candle, I expect the downward rally that began yesterday to be a rejection from this resistance line and will push the price to the lower side towards 1.0443. On the weekly chart above, short positions looks more ideal and can be recommended unless 1.1448 is breached.
Technical levels:
Resistance levels
R1: 1.1523
R2: 1.1621
R3: 1.1895
Pivot
1.1347
Support Levels
S1: 1.0799S2: 1.1073
S3: 1.1249
Trade Signal
Eur could drop towards 1.0443
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.
