11 августа 2017, EUR/USD
Technical Observation
The most important reference points in this pair includes 1.1459, 1.1616 and 1.1714. If the price can break below the first important reference point 1.1459, I expect a decline to the lower side probably towards 1.0520. A rejection from either 1.1714, 1.1616, or 1.1459 will call for a long position with a take profit fixed at 1.2558. On the weekly chart above, I still expect a bearish retracement towards the support line 1.1459 to pick a long position towards 1.2558. With this position, you stop loss should be slightly below 1.3111.
Technical levels:
Resistance levels
R3:1.18832
R2:1.18341
R1:1.18021
Pivot
1.17530
Support Levels
S1:1.17210
S2:1.16719
S3:1.16399
Trade Signal
Watch for retracement towards 1.1459.
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