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Wait for a pullback to 1.1742-1.1716

Wait for a pullback to 1.1742-1.1716 | 19 Julio 2018

19 Julio 2018, EUR/USD

Wait for a pullback to 1.1742-1.1716

Technical observation

Yesterday EUR went down but could not reach the support key level 1.1520.Price is now correcting to the key resistance zone 1.1742-1.1716 and I expect a rejection of it within the zone for bearish momentum towards 1.1520 and a possible breach below it too for a further decline in price towards 1.1339.Wait for a correction to 1.1742-1.1716 then short the pair on the chart above within the zone with your ideal target at 1.1520 and stop loss slightly above 1.1742.In case of a clear breach above 1.1742 with a big green candle, wait for a correction to it before you enter long positions towards 1.1998.

Technical levels

Resistance levels

R1.1.1712

R2.1.1738

R3.1.1813

Pivot

1.1666

Support levels

S1.1.1637

S2.1.1587

S3.1.1512

Trade signal

Wait for a pullback to 1.1742-1.1716 then short the pair within it with your take profit at .1520 and stop loss slightly above 1.1742.

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

Wait for a pullback to 1.1742-1.1716

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Imelda Maseno
Analyst of «FreshForex» company
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