09 May 2018, EUR/USD
Technical observation
After breaking down below a support zone 1.2235-1.2192,EURUSD continued to rally down towards a support line 1.1990 and even broke down below it.I expect a correction and a rejection of price from it and possible bearish movement of price towards the support line 1.1739.I would advise you wait for a pull back to 1.1990 and a rejection of price from it to sell EURUSD with your take profit at 1.1739 and stop loss around 1.2079.Remain short after a breakout below 1.1739 and a correction to it.On the daily chart above, long positions can only be advised in case there’s a clear breakout above 1.2235-1.2192.
Technical levels
Resistance levels
R1.1.2014
R2.1.2042
R3.1.2102
Pivot
1.1982
Support levels
S1.1.1954
S2.1.1922
S3.1.1862
Trade signal
Sell EURUSD around 1.1990 with your take profit at 1.1739 and stop loss around 1.2079