Remain short | 08 February 2018
08 February 2018, EUR/USD
Technical Observation:
Eur continues to decline and is still showing signs of falling even further. I went short around 1.2500 and is still holding onto this position, my expectation is that euro should continue to decline and may breakout below 1.2085 or even lower. On the way downwards, the key lines to look for include 1.2270, 1.2085 and 1.1700. If these lines are breached, then I expect further decline towards 1.1462. As it is on the weekly chart, only a short position looks more ideal and can be advised.
Technical Levels
Resistance levels
R1: 1.2542
R2: 1.2627
R3: 1.2816
Pivot
1.2438
Support Levels
S1: 1.2061
S2: 1.225
S3: 1.2353
Trade Signal
Remain short towards 1.1700.
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.
