A rejection from 1.1448 still valid | 05 July 2017
05 July 2017, EUR/USD
Technical Observation
Eur is currently trading slightly above it's weekly pivot line, 1.1347 but below a key resistance line 1.1448. Unless this resistance line is not breached to the upper side with a big green candle, I'm waiting for a clear rejection signal from 1.1448 to short Eur towards 1.0443. A breakout above 1.1448 will mean waiting for a pullback to the just broken line to re-buy Eur towards 1.2766. On the weekly chart above, I still expect further decline towards 1.1270 and even lower to 1.0443.
Technical levels:
Resistance levels
R1: 1.1523R2: 1.1621
R3: 1.1895
Pivot
1.1347
Support Levels
S1: 1.0799S2: 1.1073
S3: 1.1249
Trade Signal
Eur Could be short 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.
