Bearish towards 1.1082 | 21 June 2017
21 June 2017, EUR/USD
Technical Observation
According to the prior forecasts, following the breakout below the support line 1.1167, EUR retraced back to the same line but ended up rejected. Unless the line 1.1167 is clearly breached to the upper side with a big green candle, I expect a decline towards 1.1082 . On the 4 hour chart above, short positions seems more ideal with a take profit at 1.1082. My advice, if you didn't go short on the first pullback towards 1.1167, you can wait for current pullback to end around 1.1141 to short EUR towards 1.1082 Technical levels:
Resistance levels
R1: 1.1284 R2: 1.1372
R3: 1.1536
Pivot Point
1.1209
Support Levels
S1: 1.088S2: 1.1044
S3: 1.112
Trade Signal
Short EUR towards 1.1082
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.
