Sell EUR around 1.1167 | 20 Juni 2017

20 Juni 2017, EUR/USD

Sell EUR around 1.1167
Technical Observation
Recently, EUR broke out below the support line 1.1167 but is currently retracing back to it. I'm waiting for a clear rejection from the now resistance line 1.1167 to short EUR towards 1.1082. That said, unless 1.1167 is clearly breached to the upper side with a big red candle, I expect a decline of price towards 1.1062. On the 4 hour chart above, sell positions seems more ideal towards 1.1082, buy positions may only be reconsidered on a clear breach above 1.1167 or on a rejection from 1.1082.
Technical levels:
Resistance levels
R1: 1.1194
R2: 1.1239
R3: 1.1309
Pivot Point
1.1169
Support Levels
S1: 1.1029
S2: 1.1099
S3: 1.1124
Trade Signal
Wait for a pullback towards 1.1167 then short EUR towards 1.1082

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Imelda Maseno
Analyst of «FreshForex» company
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