Sell now towards 1.1617 | 18 December 2017
18 December 2017, EUR/USD
Technical Observation:
After a slight pullback to the upper side last week, Eur declined in value and even ended up closing below its weekly opening price. The last week's candle is a perfect bearish pin bar candle and should drive the price further to the lower side towards the weekly support zone marked above, 1.1617-1.1456. On the weekly chart above, I still expect further short positions with my take profit set at 1.1617. My advice, sell Eur now towards 1.1617, if the price should breakout below 1.1617, then wait for a break below 1.146 to confirm a rally towards 1.05
Technical Levels
Resistance levels
R1: 1.1859
R2: 1.1943
R3: 1.2092
Pivot
1.1794
Support Levels
S1: 1.1496
S2: 1.1645
S3: 1.171
Trade Signal
Sell now towards 1.1617
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.
