03 Juli 2018, EUR/USD
Technical observation
EUR/USD is trading on a downward trend. After breaching below a support 1.1861-1.1830,it retraced to it thrice before moving down to a supportive line 1.1513.It could not break below it and so was rejected and is currently rallying between the line and the zone 1.1861-1.1830.I expect a correction of price to the zone and a rejection of it within it for possible bearish momentum towards 1.1513,I also expect a possible breakout below 1.1513 for a further decline in price towards 1.1342.Right now I’m flat waiting for the pullback to 1.1861-1.1830 and a rejection of price within to short EUR/USD with my ideal target at 1.1513.
Technical levels
Resistance levels
R1.1.1734
R2.1.1766
R3.1.1851
Pivot
1.1681
Support levels
S1.1.1649
S2.1.1596
S3.1.1511
Trade signal
Remain flat.
101% Double the volume