Sell Eur now towards 1.1790. | 27 September 2017
27 September 2017, EUR/USD
Technical Observation
Recently, after breaking below 1.1676, Eur retraced back slightly to the upper side before picking a momentum to the lower side. My stop loss was taken out when price went below 1.1819. Unless there's a clear bullish breach above 1.1819 and most importantly above 1.1676, I expect a drop in price towards 1.1740 and could breakout even lower. According to the 4 hour chart above, I can only recommend picking a short position now with your take profit fixed at 1.1740. Technically, you could wait for a sell signal around 1.1790.
Technical levels:
Resistance levels
R1: 1.185
R2: 1.1908
R3: 1.2013
Pivot
1.1804
Support Levels
S1: 1.1595
S2: 1.1699
S3: 1.1746
Trade Signal
Sell Eur now towards 1.1790.
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.
