Long EUR towards 1.1141 | 17 May 2017

17 May 2017, EUR/USD

Long EUR towards 1.1141
Technical Observation:
Recently, EUR spiked above it's daily pivot 1.1055 and is still holding above it. Unless there's a clear bearish breach below this pivot, this pair could trade higher today. I expect a positive move towards 1.1141 where I've place my TP. On the 4 Hour chart above, this pair is bullish and may not retrace any time sooner. A breakout above 1.1141 may push the price further upwards but only after retracing to the just broken level.
Technical levels:
Resistance levels
R1:1.1123
R2: 1.1165
R3: 1.1275
Pivot Point
1.1055
Support Levels
S1: 1.0835
S2: 1.0945
S3: 1.1013
Trade Signal
Long EUR towards 1.1141

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Imelda Maseno
Analyst of «FreshForex» company
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