A breach above 1.1167 | 31 Mei 2017

31 Mei 2017, EUR/USD

A breach above 1.1167
Technical Observation
Recently, EUR rose above the resistance line 1.1167 but has currently retraced back to it. Unless this line is clearly breached to the lower side by a big red candle, I expect a rejection from this line to buy EUR towards 1.1248. On the Hourly chart above, buy positions seems more ideal and can be recommended towards 1.1248. Sell positions could be reconsidered below 1.1167 but only upon a clear breakout.
Technical levels:
Resistance levels
R1: 1.1174
R2: 1.121
R3: 1.1265
Pivot Point
1.1154
Support Levels
S1: 1.1044
S2: 1.1099
S3: 1.1119
Trade Signal
Long EUR towards 1.1248

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Imelda Maseno
Analyst of «FreshForex» company
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