04 Mei 2018, EUR/USD
Technical observation
Yesterday I predicted a breakout below the support line 1.1931 but instead of going below the line,EURUSD was rejected from it and is currently pulling back to the resistance zone 1.2235-1.2192,I expect price to rise up to the zone and a rejection of it form the zone for possible bearish momentum of price towards 1.1931 and a possible breakout below it for a further decline in price towards 1.1727.Right now you can remain flat and wait for either a correction to 1.2235-1.2192 or a breakout below 1.1931 to short EUR.Short term traders can opt to buy EUR now support line 1.1931 up to the zone 1.2235-1.2192.
Technical levels
Resistance levels
R1.1.2158
R2.1.2185
R3.1.2263
Pivot
1.2113
Support levels
S1.1.208
S2.1.2028
S3.1.195
Trade signal
Remain flat.