08 октября 2018, EUR/USD
Technical observation
On the daily chart above,EUR/USD pulled back to the resistance line 1.1539 but could not breach above it and was rejected. Right now it is rallying on a bearish bias and I expect a decline towards 1.1344.Im looking to sell this pair now with my take profit at 1.1344 and stop loss around 1.1624.In case of a break below 1.1344, I’ll wait for a correction to it confirming further decline in price before i continue short with EUR. Should there be a breach above 1.1539 followed by a rise to 1.1853-1.1824 and a rejection within it, You can still short EUR/USD within it with your ideal target at 1.1539.Now,only short positions can be advisable.
Technical levels
Resistance levels
R1.1.1552
R2.1.1587
R3.1.1667
Pivot
1.1508
Support levels
S1.1.1472
S2.1.1428
S3.1.1348
Trade signal
Sell EUR/USD at 1.1539 with your take profit at 1.1344 and stop loss around 1.1624.
Do you know against which currencies EUR is the most profitable?
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