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Bears gaining an edge

Bears gaining an edge | 06 December 2017

06 December 2017, EUR/USD

Bears gaining an edge
Technical Observation:
Recently, a bearish breakout was witnessed when Eur went below the supportive zone 1.1826-1.1841 and is still below this zone, Unless there's a clear breakout above 1.1841 with a big green candle, I'll only be interested in a short position with a take profit at 1.1745. A break above 1.1841 may push the price to the upper side towards 1.1925, this is however not expected since on the monthly chart, Eur is bouncing off from major monthly resistance line 1.1940, and may continue short for a long time
Technical Levels
Resistance levels
R1: 1.183
R2: 1.1833
R3: 1.1838
Pivot
1.1828
Support Levels
S1: 1.1818
S2: 1.1823
S3: 1.1825
Trade Signal
Short Eur now towards 1.1745

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Imelda Maseno
Analyst of «FreshForex» company
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