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A decline towards 1.1083

A decline towards 1.1083 | 30 May 2017

30 May 2017, EUR/USD

A decline towards 1.1083
Technical Observation
My stop was taken out with almost -10 pips when price went below 1.1167. The decline below 1.1167 was a clear breakout and unless this line is breached clearly to the upper side with a big green candle, I expect further decline towards 1.1083. On the hourly chart, sell positions seems more ideal towards 1.1083. My advice, look for short positions towards 1.1083, If the price can pullback towards 1.1167, then this will be the best place to pick sell orders.
Technical levels:
Resistance levels
R1: 1.1174
R2: 1.121
R3: 1.1265
Pivot Point
1.1154
Support Levels
S1: 1.1044
S2: 1.1099
S3: 1.1119
Trade Signal
Short EUR towards 1.1083

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Imelda Maseno
Analyst of «FreshForex» company
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