17 July 2017, EUR/USD
Technical Observation
For the first time in almost two years now, that is since February 15th 2015, the price broke above the weekly resistance line 1.1458. This is a key resistance line on almost all the higher time frames and if the price can remain above it even a during the coming week, then this will be confirmation that a breakout has happened, I expect the price to rally further upwards 1.2558 but only after a pullback. This trade is very good both for day and position traders, and if the monthly chart can close above 1.1458, then Eur could go higher even during the coming month. But if the monthly candle close below 1.1458, then during the coming month, price could drop towards 1.0520
Technical levels:
Resistance levels
R1: 1.1523
R2: 1.1621
R3: 1.1895
Pivot
1.1349
Support Levels
S1: 1.0799