14 Agustus 2017, EUR/USD
Technical Observation
On 4th of this month, Eur broke out below the rising channel with a big candle, Continued short to as low as 1.1687 but closed at 1.1822 buy Friday the 10th. the line 1.1822 is a key resistance line and unless it is broken with a big green candle, I expect a bounce from this line to pick a short position towards 1.1720. If 1.1720 is broken, then the price could plummet further towards 1.1615. On the other side, if 1.1822 is broken, then a rise towards 1.1883 may carry the day. On the 4 hour chart above, short positions still look more ideal and can safely be recommended.
Technical levels:
Resistance levels
R3:1.18832
R2:1.18341
R1:1.18021
Pivot
1.17530
Support Levels
S1:1.17210
S2:1.16719
S3:1.16399
Trade Signal
Short Eur around 1.1822 towards 1.1720.