Short EUR around 1.1167 | 22 June 2017

22 June 2017, EUR/USD

Short EUR around 1.1167
Technical Observation
Recently, EUR retraced for the second time to the just broken support line 1.1167. Now that the price is below this line, I expect this line to reject any attempts to breakout above it, thus, unless, 1.1167 remains intact, I expect a decline of price towards 1.1082 and even a breakout to continue long. A breach above 1.1167 may push the price further upwards towards 1.1224. On the 4 Hour chart above, sell positions seems more ideal with a stop loss slightly above the recent swing high.
Technical levels:
Resistance levels
R1: 1.1182
R2: 1.1197
R3: 1.1239
Pivot Point
1.1155
Support Levels
S1: 1.1071
S2: 1.1113
S3: 1.114
Trade Signal

Short EUR towards 1.1082

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Imelda Maseno
Analyst of «FreshForex» company
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