17 Agustus 2017, EUR/USD
Technical Observation
Recently, Eur recovered slight to the upper side and even ended up above 1.1714. I still expect further recovery to the upper side and even a move towards the weekly resistance line 1.2558. This is from bullish point of view, if the price gets back below 1.1714, then we expect a drop towards 1.1459. On the weekly chart above, the best place to long Eur is around 1.1459 with a take profit fixed at 1.2558 and stop loss below 1.1305.
Technical levels:
Resistance levels
R3:1.18842
R2:1.18332
R1:1.18032
Pivot
1.17541
Support Levels
S1:1.17215
S2:1.16722
S3:1.16400
Trade Signal
Position traders should wait and buy Eur around 1.1459