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Short Eur around 1.1875-1.1857

Short Eur around 1.1875-1.1857 | 17 November 2017

17 November 2017, EUR/USD

Short Eur around 1.1875-1.1857
Technical Observation:
On the 4 hour chart above, a key resistance zone can be seen around 1.1875-1.1857, if the price can rise and bounce from this place, then this will be the best place to short Eur towards 1.1565. Should the price breakout above the just mentioned zone, then further rise towards 1.2075 is expected. As it is on the 4 hour chart, if you're not long yet, you could wait for breakout above 1.1875, then long Eur towards 1.2075, however, if the price bounce from the same line, then a short position will be recommended towards 1.1565.
Technical Levels
Resistance levels
R1: 1.1847
R2: 1.1897
R3: 1.2037
Pivot
1.1756
Support Levels
S1: 1.1475
S2: 1.1615
S3: 1.1707
Trade Signal
Short Eur around 1.1875-1.1857 towards 1.1595

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Imelda Maseno
Analyst of «FreshForex» company
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