Forex Technical Analysis: Trend potential – Sell EUR/USD at 1.1539

EURUSD – Up

Sell EUR/USD at 1.1539

Technical observation

On the daily chart above,EUR/USD pulled back to the resistance line 1.1539 but could not breach above it and was rejected. Right now it is rallying on a bearish bias and I expect a decline towards 1.1344.Im looking to sell this pair now with my take profit at 1.1344 and stop loss around 1.1624.In case of a break below 1.1344, I’ll wait for a correction to it confirming further decline in price before i continue short with EUR. Should there be a breach above 1.1539 followed by a rise to 1.1853-1.1824 and a rejection within it, You can still short EUR/USD within it with your ideal target at 1.1539.Now,only short positions can be advisable.

Technical levels

Resistance levels

R1.1.1552

R2.1.1587

R3.1.1667

Pivot

1.1508

Support levels

S1.1.1472

S2.1.1428

S3.1.1348

Trade signal

Sell EUR/USD at 1.1539 with your take profit at 1.1344 and stop loss around 1.1624.

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

Sell EUR/USD at 1.1539

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