26 Oktober 2018, EUR/USD
Technical observation
After the breach below the support 1.1430, the pair on the 4Hour chart above retraced steadily to the just broken key line but could not penetrate above it and was rejected before moving downwards. I expect a decline to the key line 1.1314 and another retracement to the line 1.1430. Yesterday, I picked short position at 1.1430 and I’m holding onto it with my take profit at 1.1314 and stop loss slightly above 1.1430.In case of a clear penetration below 1.1314,I will wait for a correction to it confirming further bearish momentum of price before I continue short with EUR. Only short positions can be recommended right now.
Technical levels
Resistance levels
R1.1.1509
R2.1.1511
R3.1.1518
Pivot
1.1513
Support levels
S1.1.1502
S2.1.1498
S3.1.1491
Trade signal
Remain short.
Do you know against which currencies EUR is the most profitable?More trading assets here...