16 May 2018, EUR/USD
Technical observation
Yesterday,EUR/USD went down as predicted and is still pretty much on a bearish move, I expect bearish momentum towards 1.1739 and a possible breakout below it for further decline in price .If you had sold EUR yesterday I would advise you remain in the trade towards the support line 1.1739 ,If you had not sold yet, wait for a breakout below 1.1739 then short EUR after the second retracement to it.You can still short the pair within the resistance zone 1.2235-1.2192 in case price is corrected to it and does not break above it.Long positions can only be recommended in case of a clear breakout above 1.2235-1.2192.
Technical levels
Resistance levels
R1.1.1976
R2.1.2011
R3.1.2088
Pivot
1.1935
Support levels
S1.1.1899
S2.1.1856
S3.1.1779
Trade signal
Remain short