Short towards 1.1542 | 21 November 2017

21 November 2017, EUR/USD

Short towards 1.1542
Technical Observation:
After reaching the 4 hour resistance zone 1.1677, Euro declined in price and is still showing signs of falling even further. If you didn't short around 1.1677, you could wait for minor pullbacks to the upper side then pick a short position with your take profit at 1.1582. As it on the 4 hour chart above, only a short position can be recommended towards 1.15. On the way downwards, the key line to check for include 1.1715, 1.1655 and ultimately 1.1582, if these lines are broken, then further decline towards 1.14 is expected.
Technical Levels
Resistance levels
R1: 1.1847
R2: 1.1897
R3: 1.2037
Pivot
1.1735
Support Levels
S1: 1.1475
S2: 1.1615
S3: 1.1707
Trade Signal
Short towards 1.1542

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Imelda Maseno
Analyst of «FreshForex» company
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