EURUSD – Up
Technical observation
After days of rallying down towards a support 1.1739,EUR/USD is now correcting to the resistance line 1.1990 and I expect a rejection of it from the line for possible bearish momentum towards 1.1739 and a possible breakout below it for a continuation of bearish movement of price towards 1.1387.You can wait for the correction of price to 1.1990 then short EUR/USD at it with your take profit at 1.1739 and stop loss around 1.2079.In case of a breach below 1.1739,remain short with EUR after a correction to it with your take profit at 1.1387.Long positions can only be recommended in case price breaks above 1.2235.
Technical levels
Resistance levels
R1.1.2014
R2.1.2042
R3.1.2102
Pivot
1.1984
Support levels
S1.1.1954
S2.1.1922
S3.1.1862
Trade signal
Short EUR around 1.1990 with your take profit at 1.1739 and stop loss around 1.2079.
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