SHort EUR around 1.1224 | 14 June 2017
14 June 2017, EUR/USD
Technical Observation
In June 9th this year, EUR entered into a rising triangular formation and is still confined with this triangle. Unless there's a clear bullish breakout above the resistance line 1.1224, top of the triangle, I'm waiting to short EUR around this line towards the lower trend line acting as the diagonal to this triangle. On the hourly chart above, 1.1224 is the best place to short EUR while short positions are recommended upon a clear breakout below the lower trend line.
Technical levels:
Resistance levels
R1: 1.1217R2: 1.1218
R3: 1.1222
Pivot Point
1.1215
Support Levels
S1: 1.1208S2: 1.1211
S3: 1.1213
Trade Signal
Short EUR upon a clear rejection from 1.1224 towards 1.1165
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.
