Waiting for pullbacks | 27 July 2017

27 July 2017, EUR/USD

Waiting for pullbacks

Technical Observation:

For the past 4 days, Eur has rose almost 80 pips the price it opened, I expect further rise in price towards the daily resistance line 1.2558 and even breakout. On the weekly chart above, upward rally is highly anticipated but its wise to wait for a pullback to the lower side to pick a long position. That is, conservative traders should wait for a minor bearish pullback towards the now support line 1.1459 to long Eur towards 1.2558. Short positions can only be considered in case of a reversal from 1.2558 or on a breakout below 1.1459, otherwise, I hold onto a bullish bias sentiment here.

Technical levels:

Resistance levels

R1: 1.1752

R2: 1.1842
R3: 1.20
Pivot
1.1593
Support Levels
S1: 1.1097
S2: 1.1345
S3: 1.1504
Trade Signal
Position traders should wait for minor pullbacks towards 1.1459 to long Eur towards 1.2558

FreshForex cancels commissions!

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
ปูมบันทึกอยู่ใน
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .