Technical observation
The pair on the daily chart above s moving on an increasing bearish momentum towards 1.2904,I expect a steady decline towards the line and a possible breakout below it followed by correction to it for further bearish momentum towards 1.2624.I picked short positions within the resistance zone 1.3315-1.13281 and I’m holding onto this position with my ideal target at 1.2904 and stop loss slightly above 1.3315.In case of a break below 1.2904,wait for a correction to it confirming further bearish momentum of price before you continue short with this pair. Only short position can be advisable for the pair on the chart above.
Technical levels
Resistance levels
R1.1.3225
R2.1.3298
R3.1.341
Pivot
1.3192
Support levels
S1.1.3113
S2.1.3073
S3.1.2961
Trade signal
Remain short.
Origin: FreshForex
