Long towards 1.2479. | 29 Agustus 2017

29 Agustus 2017, EUR/USD

Technical Observation:
Yesterday, Eur rallied higher as expected and could still rise further during this day. After a break above 1.1725 and a retracement to the same line, Eur is now showing signs it could rise even further upwards. I went long after the first pullback towards 1.1725 and is till holding onto this position. My expectations is that price should rise further up towards 1.2479. On the way upwards, a key resistance line can be seen around 1.1991. If this line is broken, then Eur could rally even higher towards my target at 1.2479. Key support lines can be seen around 1.1725, 1.1475 and 1.0444, if the price can get to these lines, then these will be good places to buy Eur.
Technical levels:
Resistance levels
R31.22084
R21.20749
R11.19981
Pivot
1.18646
Support Levels
S11.17878
S21.16543
S31.15775
Trade Signal
Long towards 1.2479.

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Imelda Maseno
Analyst of «FreshForex» company
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