Remain short | 02 August 2018

02 August 2018, EUR/USD

Technical observation

EUR/USD is still rallying down towards the support 1.1509,I expect either a rally to 1.1509 and a breakout below it or a correction of price to the resistance zone 1.1744-1.172 followed by a rejection of price within it for possible bearish momentum towards 1.1509.In case of a breach below 1.1509 with a big red candle, wait for a correction to it to confirm downwards movement of price before you enter short positions towards 1.1337and if there’s a correction to 1.1744-1.1721 wait for a bounce within it then resell the pair within the zone with your ideal target at 1.1509.Right now remain short.

Technical levels

Resistance levels

R1.1.1728

R2.1.1768

R3.1.1831

Pivot

1.1708

Support levels

S1.1.1665

S2.1.1643

S3.1.158

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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