Looking for a long position above 1.1716 with an ideal take profit at 1.2752.
Looking for a long position above 1.1716 with an ideal take profit at 1.2752. | 18 октября 2017
18 октября 2017, EUR/USD
Technical Observation:
Eur is currently rallying below its weekly pivot line set at 1.1808. Unless the price breaks above this pivot line, I expect a decline in price towards 1.1715 or even lower to 1.1453. As it is, the price is above a key weekly support line 1.1716, and unless the price breaks below it, I expect a rally to the upper side towards 1.1808, or even higher. On the way upwards, key resistance lines can be seen at 1.1808, 1.2030, 1.2288 and ultimately 1.2791. , If the first three lines are broken, then the price could rise higher towards 1.2752.
Technical Levels
Resistance levels
R1: 1.1894
R2: 1.1967
R3: 1.2128
Pivot
1.1808
Support Levels
S1: 1.1486
S2: 1.1646
S3: 1.1733
Trade Signal
Looking for a long position above 1.1716 with an ideal take profit at 1.2752.
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