Forex Technical Analysis: Trend potential – Sell EURUSD around 1.1990

EURUSD – Up

Sell EURUSD around 1.1990

Technical observation

After breaking down below a support zone 1.2235-1.2192,EURUSD continued to rally down towards a support line 1.1990 and even broke down below it.I expect a correction and a rejection of price from it and possible bearish movement of price towards the support line 1.1739.I would advise you wait for a pull back to 1.1990 and a rejection of price from it to sell EURUSD with your take profit at 1.1739 and stop loss around 1.2079.Remain short after a breakout below 1.1739 and a correction to it.On the daily chart above, long positions can only be advised in case there’s a clear breakout above 1.2235-1.2192.

Technical levels

Resistance levels

R1.1.2014

R2.1.2042

R3.1.2102

Pivot

1.1982

Support levels

S1.1.1954

S2.1.1922

S3.1.1862

Trade signal

Sell EURUSD around 1.1990 with your take profit at 1.1739 and stop loss around 1.2079

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