Remain flat | 17 July 2018

17 July 2018, EUR/USD

Remain flat

Technical observation

On the chart above,EUR is pulling back to the resistance zone 1.1823-1.1803.I expect a rejection of it within the zone for bearish movement of price towards the support 1.1520 and a possible breach below it for a further decline in price towards 1.1339.Right now you can remain flat temporarily and wait for the correction to 1.1823-1.1803 then short the pair within the zone with your take profit at 1.1520 and stop loss slightly above 1.1823,if price goes below 1.1520,wait for a retracement to it then continue short with EUR towards 1.1339.On the chart above only short positions look idea and can be advised within 1.1823-1.1803.

Technical levels

Resistance levels

R1.1.1712

R2.1.1738

R3.1.1813

Pivot

1.1662

Support levels

S1.1.1637

S2.1.1587

S3.1.1512

Trade signal

Remain flat.

Do you know against which currencies EUR is the most profitable?

More trading assets here...

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .