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We're short

We're short | 02 October 2018

02 October 2018, EUR/USD

We're short

Technical observation

In the past few days, EUR has been pulling intensely to the lower side, this is a bearish dominance signal, and while the price is below the resistance zone 1.1853-1.1824,I expect a rally to the lower side towards 1.1344.In the meantime, I’m waiting for either a breakout below the support 1.1539 or a bounce from it followed by by a correction to 1.1853-1.1824 to resell EUR.As it is on the chart attached, if you went short within 1.1853-1.1824,then take your profits at 1.1344.Should there be a clear breakout above 1.1853-1.1824 with a big green candle, wait for a correction to it before you pick long positions towards 1.2183.

Technical levels

Resistance levels

R1.1.1647

R2.1.169

R3.1.1772

Pivot

1.1610

Support levels

S1.1.1565

S2.1.1526

S3.1.1444

Trade signal

We’re short towards 1.1539.

Do you know against which currencies EUR is the most profitable?

We're short

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Imelda Maseno
Analyst of «FreshForex» company
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