Wait for a pullback to 1.1744-1.1721 | 08 August 2018

Technical observation

EUR/USD is still correcting to the resistance zone 1.1744-1.1721,I don’t expect a penetration of price above the zone but a rejection of it within it for possible bearish momentum towards the support 1.1509 and a break below it too for a further decline in price towards 1.1337.Wait for the pullback to 1.1744-1.1721 then short the pair on the daily chart above within it with your take profit at 1.1509 and stop loss slightly above 1.1744.In case there’s a clear breach above 1.1744 with a big green candle, wait for a correction to it before you long EUR.Right now only short positions can be advisable within 1.1744-1.1721.

Technical levels

Resistance levels

R1.1.1599

R2.1.163

R3.1.1681

Pivot

1.160

Support levels

S1.1.1549

S2.1.1529

S3.1.1479

Trade signal

Wait for a pullback to 1.1744-1.1721 to short EUR.

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