Technical observation
A breakout was seen when Euro went below the supportive zone 1.1448 with a big red candle, price is now pulling to the just broken line and I expect a bounce of it at the line followed by possible bearish momentum of EUR towards 1.1344 and a possible breakout below it too for a further decline in price. I am waiting for the correction to 1.1448 and a rejection at it to sell this pair with my ideal target at 1.1344 and stop loss around 1.1487.In case of a breakout below 1.1344,I will wait for a correction to it confirming further decline of price before I continue short with EUR. Only short positions can be advisable on the chart above.
Technical levels
Resistance levels
R1.1.1509
R2.1.1511
R3.1.1518
Pivot
1.1511
Support levels
S1.1.1502
S2.1.1498
S3.1.1491
Trade signal
Wait for a correction to 1.1448 to sell EUR/USD.
Origin: FreshForex
