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

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Imelda Maseno
Analyst of «FreshForex» company
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