Short EUR within 1.1861-1.1830 | 04 Juli 2018

04 Juli 2018, EUR/USD

Technical observation

EUR/USD is still rallying below the resistance zone 1.1861-1.1830.Unless there’s a clear breach to the upper side with a big green candle, I expect a momentum to the lower side. As it is on the daily chart above, I highly recommend remaining flat and looking for a sell position around 1.1861-1.1830with your first take profit at 1.1511, and the next at 1.1342.If the price breaks above 1.1861-1.1830, I expect a surge to the upper side with my fist take profit at 1.2013 and the next at 1.2235.As long as price remains below the resistance zone 1.1861-1.1830, only short positions can be recommended on the daily chart above.

Technical levels

Resistance levels

R1.1.1734

R2.1.1766

R3.1.1851

Pivot

1.1683

Support levels

S1.1.1649

S2.1.1596

S3.1.1511

Trade signal

Short EUR within 1.1861-1.1830 with your take profit at 1.1511 and stop loss slightly above 1.1861.

101% Double the volume

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Imelda Maseno
Analyst of «FreshForex» company
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