EURUSD – Up
Technical observation
Yesterday, EUR/USD pulled back to the just broken line 1.1539, it could not penetrate above it was rejected. Currently price is rallying below the line on a bearish momentum and I expect a decline towards 1.1344 and a possible breach below it for a further decline. You can short this pair now at the line or wait for a second correction to the line to short EUR just to ensure this is not a false breakout. Should there be a breach below 1.1344,wait for a correction to it before you continue short with EUR, and in case of a breach above 1.1539,wait for a pullback to 1.1853-1.1824 and a rejection within it to re-sell EUR/USD.
Technical levels
Resistance levels
R1.1.1647
R2.1.169
R3.1.1772
Pivot
1.1616
Support levels
S1.1.1565
S2.1.1526
S3.1.1444
Trade signal
Short EUR at 1.1539 with your take profit at 1.1344 and stop loss around 1.1619.
Do you know against which currencies EUR is the most profitable?
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