Technical observation
The pair on the 4Hour chart above has been plummeting towards the support 1.1448, I expect either a bounce of it at the line followed by a correction to the resistance zone 1.1538-1.1533 for possible downwards momentum, or, a clear breakout below the line followed by a correction to it for bearish momentum of price towards 1.1344.I sold this pair yesterday within 1.1538-1.1533 and I’m looking to pick my profits at 1.1448.Only short positions may be recommended on the chart above. Should there be a clear breakout above 1.1538-1.1533 with a big green candle, wait for retracement to it before you buy EUR.
Technical levels
Resistance levels
R1.1.1509
R2.1.1511
R3.1.1518
Pivot
1.1507
Support levels
S1.1.1502
S2.1.1498
S3.1.1491
Trade signal
Remain short to 1.1448.
Origin: FreshForex
