27 September 2017, EUR/USD
Technical Observation
Recently, after breaking below 1.1676, Eur retraced back slightly to the upper side before picking a momentum to the lower side. My stop loss was taken out when price went below 1.1819. Unless there's a clear bullish breach above 1.1819 and most importantly above 1.1676, I expect a drop in price towards 1.1740 and could breakout even lower. According to the 4 hour chart above, I can only recommend picking a short position now with your take profit fixed at 1.1740. Technically, you could wait for a sell signal around 1.1790.
Technical levels:
Resistance levels
R1: 1.185
R2: 1.1908
R3: 1.2013
Pivot
1.1804
Support Levels
S1: 1.1595
S2: 1.1699
S3: 1.1746
Trade Signal
Sell Eur now towards 1.1790.