Remain long towards 1.1720 | 28 Agustus 2017

28 Agustus 2017, EUR/USD

Remain long towards 1.1720

Technical Observation:

Even before retracing towards my set target at 1.1457, Eur only retraced towards 1.1720 before embarking on an upward rally. The fact that the line 1.1720 has contained price above it, is a clear sign that bulls are in complete dominance. I expect Eur to even rise further to the upper side towards 1.2464. On the way upwards a key challenge can be seen around the resistance line 1.1998. If this Resistance can be broken, then this will be an indication that price could rise further towards 1.1720. As at now, this Eur is bullish and is only good for long positions.

Technical levels:

Resistance levels

R1: 1.1845

R2: 1.193
R3: 1.2107
Pivot
1.1754
Support Levels
S1: 1.14
S2: 1.1577
S3: 1.1669
Trade Signal
Remain long towards 1.1720

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Imelda Maseno
Analyst of «FreshForex» company
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