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Sell now towards 1.1617

Sell now towards 1.1617 | 18 December 2017

18 December 2017, EUR/USD

Technical Observation:
After a slight pullback to the upper side last week, Eur declined in value and even ended up closing below its weekly opening price. The last week's candle is a perfect bearish pin bar candle and should drive the price further to the lower side towards the weekly support zone marked above, 1.1617-1.1456. On the weekly chart above, I still expect further short positions with my take profit set at 1.1617. My advice, sell Eur now towards 1.1617, if the price should breakout below 1.1617, then wait for a break below 1.146 to confirm a rally towards 1.05
Technical Levels
Resistance levels
R1: 1.1859
R2: 1.1943
R3: 1.2092
Pivot
1.1794
Support Levels
S1: 1.1496
S2: 1.1645
S3: 1.171
Trade Signal
Sell now towards 1.1617

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Imelda Maseno
Analyst of «FreshForex» company
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