01 Agustus 2017, EUR/USD
Technical Observations
Eur is currently trading slightly above it's weekly pivot line 1.1713. Unless there's a clear pull back below this pivot, I expect a rise towards the weekly resistance line 1.2558, if the pivot line is broken to the lower side, then I expect further decline towards the now weekly support line 1.1459. This is a key support line and unless its clearly broken to the lower side with a big red candle, I expect a rejection from it to long Eur towards the resistance line 1.2558. On the weekly chart above, Eur is very bullish and may rise further upwards. Of course minor retracements will provide even better buy entries.
Technical levels:
Resistance levels
R1: 1.1813