01 May 2018, EUR/USD
Technical observation
Recently EURUSD broke down below a key support zone 1.2245-1.2192 and is still pretty much below it.I expect a retracement to the just broken zone followed by a rejection of price within or around it for possible bearish movement of price towards the support line 1.1931 and a possible breakout below it for a further decline in price towards the next support line 1.1727.I would advise you wait for a correction to 1.2245-1.2192 then sell EUR with your take profit at 1.1931 and stop loss around 1.2380.Right now you can remain flat temporarily as you wait for the retracement of price to 1.2245-1.2192.
Technical levels
Resistance levels
R1.1.2158
R2.1.2185
R3.1.2263
Pivot
1.2107
Support levels
S1.1.208
S2.1.2028
S3.1.195
Trade signal
Remain flat temporarily.