09 Agustus 2018, EUR/USD
Technical observation
EUR/USD is rallying towards 1.1744-1.1721,I expect a bounce from the zone followed by bearish momentum of price towards 1.1509.Short the pair on the daily chart above within 1.1744-1.1721 with your take profit at 1.1509 and stop loss slightly above 1.1744.In case of a clear breakout above 1.1744 with a big green candle, wait for a correction to it to confirm bullish movement of price before you enter long positions but on the second retracement to the just broken zone just to ensure it is not a false breakout. Right now you can remain flat temporarily and wait for a correction to 1.1744-1.1721.
Technical levels
Resistance levels
R1.1.1599
R2.1.163
R3.1.1681
Pivot
1.162
Support levels
S1.1.1549
S2.1.1529
S3.1.1479
Trade signal
Remain flat temporarily
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