Flat | 04 Desember 2017

04 Desember 2017, EUR/USD

Flat
Technical Observation:
As I said earlier, Eur merely continued higher last week, but still below the monthly resistance zone, 1.2204-1.1818. Unless there's a clear breakout above this zone, I remain adamant to buy Eur. There's a little contradiction between the weekly chart and the monthly, while the monthly chart is showing a potential long term sell, the weekly chart is still bullish. Instead of selling or buying Eur now, I choose to remain flat, and wait for the weekly buyers to buy, then I'm going to sell alongside the position traders looking to sell on the monthly chart.
Technical Levels
Resistance levels
R1: 1.2012
R2: 1.2094
R3: 1.2326
Pivot
1.1863
Support Levels
S1: 1.1399
S2: 1.1631
S3: 1.178
Trade Signal
Flat

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Imelda Maseno
Analyst of «FreshForex» company
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