Short Eur around 1.1822 towards 1.1720 | 14 August 2017
14 August 2017, EUR/USD
Technical Observation
On 4th of this month, Eur broke out below the rising channel with a big candle, Continued short to as low as 1.1687 but closed at 1.1822 buy Friday the 10th. the line 1.1822 is a key resistance line and unless it is broken with a big green candle, I expect a bounce from this line to pick a short position towards 1.1720. If 1.1720 is broken, then the price could plummet further towards 1.1615. On the other side, if 1.1822 is broken, then a rise towards 1.1883 may carry the day. On the 4 hour chart above, short positions still look more ideal and can safely be recommended.
Technical levels:
Resistance levels
R3:1.18832
R2:1.18341
R1:1.18021
Pivot
1.17530
Support Levels
S1:1.17210
S2:1.16719
S3:1.16399
Trade Signal
Short Eur around 1.1822 towards 1.1720.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
