EURUSD – Up
Technical observation
EUR/USD has been trading on a downward trend, price broke below a support zone 1.1830-1.1794,it retraced to it twice before moving down up to a support line 1.1534.Yesterday it retraced to the zone but was rejected and could not penetrate above it.I expect a decline in price towards 1.1534 and a breakout below it for a further drop in price towards 1.1343.You can short the pair within 1.1830-1.1794 with your take profit at 1.1534 and stop loss around 1.1919.In case of a breakout below 1.1534,continue short with EUR after a correction to it.Long positions may only be recommended in case there’s a clear breach above 1.1839.
Technical levels
Resistance levels
R1.1.1811
R2.1.1853
R3.1.1937
Pivot
1.1769
Support levels
S1.1.1727
S2.1.1685
S3.1.1601
Trade signal
Short the pair within 1.1830-1.1794 with your take profit at 1.1534 and stop loss around 1.1919.
101% Double the volume
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