Waiting for a clear signal | 11 Juli 2017

11 Juli 2017, EUR/USD

Waiting for a clear signal

Technical Observation

Nothing has changed much since the previous analysis. Eur is still above it's weekly pivot line 1.1385 but below a key weekly resistance line 1.1444. Unless this resistance line is broken upwards with a big green candle, I expect a reversal from this line to short Eur towards 1.0520. A breakout above 1.1444 may mean waiting for a pullback to the just broken line to long Eur towards 1.2558. On the weekly chart above, I'd remain flat temporarily and wait for a clear sell signal around 1.1444, if 1.1444 is broken, then I'll wait for buy signals. My advice, remain flat for now and wait for a clear sell signal around 1.1444.

Technical levels:

Resistance levels

R1: 1.1457

R2: 1.1513

R3: 1.164
Pivot
1.1385
Support Levels
S1: 1.1129
S2: 1.1257
S3: 1.1329
Trade Signal
Flat for now

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Imelda Maseno
Analyst of «FreshForex» company
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