Price is still rallying within the weekly flag formation. On the weekly chart attached, Eur looks a bit bearish and could plummet towards the lower trend line acting as the support to the flag, however, on the intraday charts, the price could rise towards 1.2000 or even higher. My advice, intraday traders should be looking for a buy position towards 1.2000. While, long term traders should look for a rejection from the upper trend line to pick a short position towards 1.15000 or even lower.
Technical Levels
Resistance levels
R1: 1.1859
R2: 1.1943
R3: 1.2092
Pivot
1.1640
Support Levels
S1: 1.1496
S2: 1.1645
S3: 1.171
Trade Signal
Longterm traders should wait for a sell upon a rejection from the upper trendline.
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