Forex Technical Analysis: Trend potential – Short EUR around 1.1733

EURUSD – Up

Short EUR around 1.1733

Technical observation

Yesterday EUR/USD broke below a support line 1.1733 with a big red candle then went down, currently price is pulling back to the broken line and I don’t expect above it but a rejection of it from the line for possible bearish momentum towards 1.1468.I would advise you wait for the correction to 1.1733 and a rejection of price from it then short the pair at it with your take profit at 1.1468 and stop loss around 1.1817.In case of a breakout below 1.1468,wait for a correction to it then continue short with the pair towards 1.1129.Right now bears are charged and only short [positions can be recommended.

Technical levels

Resistance levels

R1.1.1813

R2.1.1854

R3.1.1927

Pivot

1.1785

Support levels

S1.1.1739

S2.1.1708

S3.1.1635

Trade signal

Wait for a pull back to 1.1733 to short EUR/USD with your take profit at 1.1468 and stop loss around 1.1817

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