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Resell EUR around 1.1131

Resell EUR around 1.1131 | 19 May 2017

19 May 2017, EUR/USD

Resell EUR around 1.1131
Technical Observation:
Recently. EUR brokeout below the support line 1.1131, retraced back to it twice before continuing long. Currently EUR is showing signs of retracing back for the third time to this line. Unless there's a clear bullish breach above this line, I expect a rejection from this line to short EUR. On the Houly chart above, sell positions are rercommeded around 1.1131 and buy positions above 1.1131.
Technical levels: Resistance levels
R1: 1.1112
R2: 1.1116
R3: 1.1124
Pivot Point 1.1107
Support Levels
S1:1.1091
S2: 1.1099
S3: 1.1104
Trade Signal Resell EUR around 1.1131 towards 1.1083

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Imelda Maseno
Analyst of «FreshForex» company
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