15 Agustus 2017, EUR/USD
Technical Observation
Despite the bullish pin bar seen on the weekly chart last week, yesterday, Eur plummented slightly to the lowerside and may still plumment today. I expect this drop in price to be retracement move and could drop further towards the now weekly support line 1.1459. If the price can get to this support, then this will be the best place to pick a long position with a take profit at 1.2558. For risk management purposes, position traders should place a pending buy limit order around 1.1459.
Technical levels:
Resistance levels
R3:1.18832
R2:1.18341
R1:1.18021
Pivot
1.17532
Support Levels
S1:1.17210
S2:1.16719
S3:1.16399
Trade Signal
Place a pending buy limit order around 1.1459