Still short towards 1.1465 | 01 November 2017

01 November 2017, EUR/USD

Still short towards 1.1465
Technical Observation:
Since the beginning of this week, nothing has changed much, Eur is still pulling back slightly to the upper side despite the massive drop seen last week. I expect this pullback to be a mere pullback and should not go above 1.1727, where I'll be looking for a short position. As it is on the weekly chart above, only a short position can be recommended towards 1.1451 where I'll be looking for a buy position. Should the price descend below 1.1451, then I expect further drop in price towards 1.0480.
Technical Levels
Resistance levels
R1: 1.1773
R2: 1.1936
R3: 1.2199
Pivot
1.1673
Support Levels
S1: 1.1148
S2: 1.1411
S3: 1.151
Trade Signal
Still short towards 1.1465

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Imelda Maseno
Analyst of «FreshForex» company
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