08 Agustus 2018, EUR/USD
Technical observation
EUR/USD is still correcting to the resistance zone 1.1744-1.1721,I don’t expect a penetration of price above the zone but a rejection of it within it for possible bearish momentum towards the support 1.1509 and a break below it too for a further decline in price towards 1.1337.Wait for the pullback to 1.1744-1.1721 then short the pair on the daily chart above within it with your take profit at 1.1509 and stop loss slightly above 1.1744.In case there’s a clear breach above 1.1744 with a big green candle, wait for a correction to it before you long EUR.Right now only short positions can be advisable within 1.1744-1.1721.
Technical levels
Resistance levels
R1.1.1599
R2.1.163
R3.1.1681
Pivot
1.160
Support levels
S1.1.1549
S2.1.1529
S3.1.1479
Trade signal
Wait for a pullback to 1.1744-1.1721 to short EUR.
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