Remain short | 11 July 2018

11 July 2018, EUR/USD

Technical observation

After the rejection from the resistance zone1. 1821-1.1788,EUR/USD is still rallying down towards the support 1.1537,I expect a rally to the support and a possible breakout below it for a further decline in EUR towards the lower support 1.1342.If you sold the pair within 1.1821-1.1788,remain short with your ideal target at 1.537 and stop loss slightly above 1.1821,this pair is pretty bearish and only short positions can be recommended on the chart above as long as price remains below the resistance zone 1.1821-1.1788.In case of a clear breach above 1.1821,wait for a correction to it to confirm bullish movement of price before you long EUR.

Technical levels

Resistance levels

R1.1.168

R2.1.17

R3.1.1747

Pivot

1.1655

Support levels

S1.1.1633

S2.1.1606

S3.1.156

Trade signal

Remain short.

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Imelda Maseno
Analyst of «FreshForex» company
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