22 октября 2018, EUR/USD
Technical observation
On the 4 hour chart above, EUR/USD has been trading on a downwards trend with retracement at the resistance line 1.1533.Price recently rose steadily to the line but could not penetrate above it and was rejected before moving down. Right now it is pulling back to the same line and I expect nothing but a rejection of it at the line for possible bearish momentum of price towards 1.1441 and a possible breakout below it for a further decline in EUR towards 1.1344. I would advise you wait and re-sell this pair at 1.1533 with your take profit at 1.1441 and stop loss around 1.1574.Only short position can be recommended on the chart above.
Technical levels
Resistance levels
R1.1.1509
R2.1.1511
R3.1.1518
Pivot
1.1505
Support levels
S1.1.1502
S2.1.1498
S3.1.1491
Trade signal
Re-sell EUR/USD at 1.1533 with your take profit at 1.1441 and stop loss around 1.1574.
Do you know against which currencies EUR is the most profitable?
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