Waiting game | 25 Juli 2017

25 Juli 2017, EUR/USD

Waiting game

Technical Observation

Nothing has changed much since the other day's forecast. I still expect a decline in price towards the now support line 1.1481 to long Eur with my target still intact at weekly resistance line 1.2554. On the weekly chart above, long position still looks more ideal and can safely be recommended unless 1.1481 is clearly breached to the lower side with a big red candle, if this support line is not clearly broken, then I expect a rejection from this line to but Eur. At the moment, remain flat, temporarily and wait for this pullback.

Technical levels:

Resistance levels

R1: 1.1523

R2: 1.1621

R3: 1.1895

Pivot

1.1355

Support Levels

S1: 1.0799

S2: 1.1073
S3: 1.1249
Trade Signal
Wait for a pullback towards 1.1481 to bu Eur towards 1.2554

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Imelda Maseno
Analyst of «FreshForex» company
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