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Short Eur now towards 1.2005

Short Eur now towards 1.2005 | 05 January 2018

05 January 2018, EUR/USD

Short Eur now towards 1.2005
Technical Observation:
After a rise just a few day's ago, Eur is currently consolidated around 1.2070. Unless there's a clear breakout above this resistance line 1.2070 with a big green candle, I expect a rejection from this line to short Eur. The line 1.2070 is both a daily and a 4 hour resistance line and should take great effort to breakout above, thus, unless the price rise above it, I'm only interested in short positions.
Technical Levels
Resistance levels
R1: 1.2048
R2: 1.2084
R3: 1.2144
Pivot
1.2024
Support Levels
S1: 1.1905
S2: 1.1965
S3: 1.1988
Trade Signal
Short Eur now towards 1.2005 with your stop loss above 1.2089

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Imelda Maseno
Analyst of «FreshForex» company
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