Remain long towards 1.2476 | 20 Oktober 2017

20 Oktober 2017, EUR/USD

Remain long towards 1.2476
Technical Observation:
Earlier this week, Eur declined in price but failed to penetrate below the support line 1.1717. This is a bulls domination signal, and unless the price breaks below 1.1717 with a big red candle, I expect a rise towards 1.2476 or even higher. On the way upwards, key resistance lines can be seen around 1.1920, 1.2044 and 1.2280. If these lines are broken, then a rise towards 1.2476 will be the next ideal move. This is on the bulls side, if the price breaks below 1.1717, then a drop towards 1.1453 will be the next ideal move.
Technical Levels
Resistance levels
R1: 1.1824
R2: 1.1853
R3: 1.1928
Pivot
1.1778
Support Levels
S1: 1.1626
S2: 1.1701
S3: 1.174
Trade Signal
Remain long towards 1.2476

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Imelda Maseno
Analyst of «FreshForex» company
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