EURUSD – Up
Technical observation
EUR/USD is still rallying below the resistance zone 1.1861-1.1830.Unless there’s a clear breach to the upper side with a big green candle, I expect a momentum to the lower side. As it is on the daily chart above, I highly recommend remaining flat and looking for a sell position around 1.1861-1.1830with your first take profit at 1.1511, and the next at 1.1342.If the price breaks above 1.1861-1.1830, I expect a surge to the upper side with my fist take profit at 1.2013 and the next at 1.2235.As long as price remains below the resistance zone 1.1861-1.1830, only short positions can be recommended on the daily chart above.
Technical levels
Resistance levels
R1.1.1734
R2.1.1766
R3.1.1851
Pivot
1.1683
Support levels
S1.1.1649
S2.1.1596
S3.1.1511
Trade signal
Short EUR within 1.1861-1.1830 with your take profit at 1.1511 and stop loss slightly above 1.1861.
101% Double the volume
You may check other analytical reviews on FreshForex website. Source: freshforex.com.