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Remain short

Remain short | 07 February 2018

07 February 2018, EUR/USD

Technical Observation:
Recently, Eur bounced off from the resistance level 1.2500 and is currently heading to the lower side. Unless this line is not breached to the upper side with a big green candle, I expect the price to plummet even further with my take profit at 1.1708 and the next take profit at 1.1462. On the way downwards, the key lines to look for include 1.2270, 1.2085 and 1.1708. If these lines are breached, then A decline towards 1.1462 looks more ideal and can be advised. As it is, only a short position towards 1.1708 looks much better.
Technical Levels
Resistance levels
R1: 1.2542
R2: 1.2627
R3: 1.2816
Pivot
1.2438
Support Levels
S1: 1.2061
S2: 1.225
S3: 1.2353
Trade Signal
Remain short with your take profit at 1.1708

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Imelda Maseno
Analyst of «FreshForex» company
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