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Short EUR now

Short EUR now | 05 June 2018

05 June 2018, EUR/USD

Buy EUR now

Technical observation

The pair on the daily chart above is on a downward movement, price went down a support zone 1.1725-1.1694 on 25th of May this year with a big red candle, it then retraced to the broken zone but could not penetrate above it and was rejected then went down. Yesterday it corrected to the zone again for the second time and was still rejected, I expect a decline in price towards 1.1366 and a breakout below it for further decline towards 1.1149.Right now with the price within the zone it is the ideal time to short the pair with your take profit at 1.1366 and stop loss around 1.1833.Continue short below 1.1149.

Technical levels

Resistance levels

R1.1.1713

R2.1.1767

R3.1.1868

Pivot

1.1665

Support levels

S1.1.1611

S2.1.1563

S3.1.1461

Trade signal

Short EUR now with your take profit at 1.1366 and stop loss around 1.1833.

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Imelda Maseno
Analyst of «FreshForex» company
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