Wait for a clear rejection from 1.1164 to long EUR towards 1.1277
Wait for a clear rejection from 1.1164 to long EUR towards 1.1277 | 09 Juni 2017
09 Juni 2017, EUR/USD
Technical Observation
Despite the UK elections resultes, EUR declined only slightly to the lowerside but is currently rallying above a key 4 hour support line 1.1164. On the 4 our chart above, I expect a rejection from both the supportive trendline and the support line 1.1164 to long EUR towards 1.1277. My advice, unless there's a clear breach below 1.1164, long positions seems more ideal. Sell positions can only be recommended upon a clear breakout below the lower trendline towards 1.0648
Technical levels:
Resistance levels
R1: 1.1252
R1:1.1298
R3: 1.1372
Pivot Point
1.1223
Support Levels
S1: 1.1074
S2: 1.1148
S3: 1.1177
Trade Signal
Wait for a clear rejection from 1.1164 to long EUR towards 1.1277
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