Wait and buy Eur around 1.1459 towards 1.2558 | 01 Agustus 2017

01 Agustus 2017, EUR/USD

Wait and  buy Eur around 1.1459 towards 1.2558

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

R2: 1.1878
R3: 1.2042
Pivot
1.1713
Support Levels
S1: 1.1384
S2: 1.1548
S3: 1.1649
Trade Signal
Consevertive traders should wait and buy Eur around 1.1459 towards 1.2558.

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Imelda Maseno
Analyst of «FreshForex» company
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