Sell positions looming | 02 June 2017
02 June 2017, EUR/USD
Technical Observation
Recently, EUR entered into a rising bearish flag and is still confined within this flag. I expect a possible breakout to the lower side to confirm further bearish rally towards1.1167 and even a breakout below. On the hourly chart above, sell positions seems more ideal towards 1.1167. Buy positions can only be recommended above 1.1243 and upon a rejection from 1.1167.
Technical levels:
Resistance levels
R1: 1.1241R2: 1.1269
R3: 1.1315
Pivot Point 1
.1222
Support Levels
S1: 1.1128S2: 1.1175
S3: 1.1194
Trade Signal
Short EUR towards 1.1167
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.
