Forex Technical Analysis: Trend potential – Remain short to 1.1448.

EURUSD – Up

Remain short to 1.1448.

Technical observation

The pair on the 4Hour chart above has been plummeting towards the support 1.1448, I expect either a bounce of it at the line followed by a correction to the resistance zone 1.1538-1.1533 for possible downwards momentum, or, a clear breakout below the line followed by a correction to it for bearish momentum of price towards 1.1344.I sold this pair yesterday within 1.1538-1.1533 and I’m looking to pick my profits at 1.1448.Only short positions may be recommended on the chart above. Should there be a clear breakout above 1.1538-1.1533 with a big green candle, wait for retracement to it before you buy EUR.

Technical levels

Resistance levels

R1.1.1509

R2.1.1511

R3.1.1518

Pivot

1.1507

Support levels

S1.1.1502

S2.1.1498

S3.1.1491

Trade signal

Remain short to 1.1448.

Do you know against which currencies EUR is the most profitable?

Remain short to 1.1448.

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