01 August 2018, EUR/USD
Technical observation
On the daily chart above,EUR/USD has been trading on a downward movement with several retracements on the key resistance zone 1.1744-1.1721.Recently price bounced from the zone then went down yesterday and is still rallying down. I expect a decline in price towards the support 1.1509 and a breach below it for a further decline in EUR towards 1.1337.If you sold the pair yesterday within the zone, remain short with your ideal target at 1.1509 and stop loss slightly above 1.1744.In case of a breach below 1.1509, wait for a pullback to it then continue short with the pair. Only short positions are advisable on the chart above.
Technical levels
Resistance levels
R1.1.1728
R2.1.1768
R3.1.1831
Pivot
1.1706
Support levels
S1.1.1665
S2.1.1643
S3.1.158
Trade signal
Remain short.
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