Long Euro above 1.06800 | 18 April 2017

18 April 2017, EUR/USD

Technical Observation:

Recently, Euro has been trading on the sideways within the rising wedge. From the 4 hour point of view, a key resistance can be seen around 1.06800 and a key support at 1.0646. My advice is to wait for a clear breakout above this resistance level and then a retest to get clear buy signal. Otherwise, the short term trend is bearish as long as the price is below 1.06800.

Technical levels:

Resistance levels

R1:1.0671

R2:1.0699

R3:1.0755

Pivot Point

1.0643

Support Levels

S1:1.0532

S2:1.0587

S3:1.0616

Trade Signal
Wait for a breakout above 1.06800, then a retest to long euro towards 1.07648 .

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Imelda Maseno
Analyst of «FreshForex» company
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