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Short EUR at 1.1539

Short EUR at 1.1539 | 05 October 2018

05 October 2018, EUR/USD

Short EUR at 1.1539

Technical observation

Yesterday, EUR/USD pulled back to the just broken line 1.1539, it could not penetrate above it was rejected. Currently price is rallying below the line on a bearish momentum and I expect a decline towards 1.1344 and a possible breach below it for a further decline. You can short this pair now at the line or wait for a second correction to the line to short EUR just to ensure this is not a false breakout. Should there be a breach below 1.1344,wait for a correction to it before you continue short with EUR, and in case of a breach above 1.1539,wait for a pullback to 1.1853-1.1824 and a rejection within it to re-sell EUR/USD.

Technical levels

Resistance levels

R1.1.1647

R2.1.169

R3.1.1772

Pivot

1.1616

Support levels

S1.1.1565

S2.1.1526

S3.1.1444

Trade signal

Short EUR at 1.1539 with your take profit at 1.1344 and stop loss around 1.1619.

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

Short EUR at 1.1539

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Imelda Maseno
Analyst of «FreshForex» company
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