11 Mei 2018, EUR/USD
Technical observation
EUR/USD is still pulling back to the resistance line 1.1990 and I expect a rejection of it from the line for possible bearish momentum towards the support line 1.1739.I would advise you remain flat temporarily and wait for the rejection of price at 1.1990 to sell EUR/USD with your take profit at 1.1739.You can also short EUR around 1.2235-1.2192 in case price goes above 1.1990 then gets rejected within the zone. On the daily chart above, only short positions look ideal and can be advised towards 1.1739.Long positions can only be ideal in case there’s a clear breach above 1.2235 with a big green candle.
Technical levels
Resistance levels
R1.1.2014
R2.1.2042
R3.1.2102
Pivot
1.1986
Support levels
S1.1.1954
S2.1.1922
S3.1.1862
Trade signal
Remain flat temporarily.