Short for a while towards 1.1459 | 18 August 2017

Technical Observation

Nothing has changed much since my previous analysis of this pair. I still expect a bearish retracement towards the support line 1.1459. If this support can be breached clearly to the lowerside with a big red candle, then I still expect the price to plummet even further. But as the chart is, I'm keen to hund for long positions especially around 1.1459. That said, I expect a rejection around 1.1459 to pick a long position with may take profit stil fixed along the weekly resistance line 1.254.

Technical levels:

Resistance levels

R3:1.1875

R2:1.1841

R1:1.1842

Pivot

1.1745

Support Levels

S1:1.1731

S2:1.1682

S3:1.1650

Trade Signal

Short for a while towards 1.1459.