Short Eur now towards 1.2005 | 05 January 2018
05 January 2018, EUR/USD
Technical Observation:
After a rise just a few day's ago, Eur is currently consolidated around 1.2070. Unless there's a clear breakout above this resistance line 1.2070 with a big green candle, I expect a rejection from this line to short Eur. The line 1.2070 is both a daily and a 4 hour resistance line and should take great effort to breakout above, thus, unless the price rise above it, I'm only interested in short positions.
Technical Levels
Resistance levels
R1: 1.2048
R2: 1.2084
R3: 1.2144
Pivot
1.2024
Support Levels
S1: 1.1905
S2: 1.1965
S3: 1.1988
Trade Signal
Short Eur now towards 1.2005 with your stop loss above 1.2089
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.
