02 Agustus 2017, EUR/USD
Technical Observations
Eur is currently trading with a diminishing upward momentum. I'm waiting for bearish pullbacks anytime from now, however, Eur may rise even higher towards 1.1916, where I expect a rejection. A key support line can be seen around 1.1659; from the weekly chart above, this is the ideal place for position traders to long Eur with a stop loss below 1.1354 and take profit at 1.2558. That said, although I'm good to look for long positions even now, I choose to place a pending buy limit order at 1.1459, just in case the price comes back to this place.
Technical levels:
Resistance levels
R1: 1.1813