Short EUR | 09 January 2018

Technical observation

Previously when price was on moving up on the hourly chart above, price retraced twice at a key zone(1.2004-1.1997) and even sent tails to it, recently however ,price broke below the zone with a red candle and retrace to it then continued short, currently price is rallying towards the zone and I expect a rejection of the price at the zone. If price reaches the zone then that would be the ideal time to sell EUR within the zone with take profit at I.1937 and stop loss slightly above 1.2004key lines to look for are 1.1937 and 1.2057.

Technical levels

Resistance levels

R1.1.1977

R2.1.1981

R3.1.199

Pivot

1.1972

Support levels

S1.1.1968

S2.1.1963

S3.1.1954

Trade signal

Sell EUR within the key zone(1. 2004-1.1997) with your take profit at I.1937 and your stop loss slightly above 1.2004

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