Short EUR now. | 15 May 2018

15 May 2018, EUR/USD

Short EUR now.

Technical observation

On the daily chart above EUR/USD went down below a support zone 1.2235-1.2192, price not correct to it but instead it rallied down. Recently it corrected at a resistance line 1.1993 then went down, yesterday’s candle was a bearish pin bar which sent its tail to the line a sign of bearish momentum to the lower side, if you had not sold EUR yet, I would advise you short now with your take profit at 1.1739 and stop loss around 1.2090.In Case price breaks below 1.1739, wait for a correction to it then continue short with EUR with your ideal target at 1.1387.Only short positions look ideal and can be recommended.

Technical levels

Resistance levels

R1.1.1976

R2.1.2011

R3.1.2088

Pivot

1.1933

Support levels

S1.1.1899

S2.1.1856

S3.1.1779

Trade signal

Short EUR now with your take profit at 1.1739 and stop loss around 1.2090.

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Imelda Maseno
Analyst of «FreshForex» company
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