Technical Analysis Based on Breakout – Buy a bounce from 1.1481

Buy a bounce from 1.1481
Technical Observation:
Eur is currently trading below its pivot weekly pivot line 1.1632 but above a key weekly support line 1.1481. If you went short based on yesterday’s forecast, leave this position open but only up to 1.1481, if the price can decline below this support, then further decline towards the weekly support line 1.0468 is expected. As it is on the weekly chart above, a key hurdle can be seen at 1.1481, and any short positions currently opened must not be allowed to remain below it.
Technical Levels
Resistance levels
R1: 1.1669
R2: 1.173
R3: 1.1828
Support Levels
S1: 1.1435
S2: 1.1533
S3: 1.1571
Trade Signal
Wait and buy a bounce from 1.1481

FreshForex cancels commissions!

You may check other analytical reviews on FreshForex website. Source: