20 July 2018, EUR/USD
Technical observation
EU/USD is still on a downward trend with yesterday’s candle closing as a dodgy candle. I expect a pullback to key resistance zone 1.1742-1.1716 and a rejection of price within it for possible bearish momentum towards 1.1520 followed by a breakout below it for a further decline in price.Im waiting for the correction to 1.1742-1.1716 and a rejection within it to short the pair on the daily chart above with my ideal target at 1.1520 and stop loss slightly above 1.1742.In case of a breach below 1.1520,wait for a correction to it then continue short with the pair towards the lower support 1.1339.
Technical levels
Resistance levels
R1.1.1712
R2.1.1738
R3.1.1813
Pivot
1.1668
Support levels
S1.1.1637
S2.1.1587
S3.1.1512
Trade signal
Wait for a pullback to 1.1742-1.1716 to short EUR with your take profit at .1520 and stop loss slightly above 1.1742.
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