Forex Technical Analysis: Trend potential – Short EUR within 1.1744-1.1721.

EURUSD – Up

Short EUR within 1.1744-1.1721.

Technical observation

In the recent past, EUR/USD established a long term resistance zone 1.1744-1.1721 and is still below it.For the past few days , EUR has been rallying down significantly towards the support 1.1509 but is currently pulling back to 1.1744-1.1721.I expect a loss of bullish momentum around the just mentioned zone to EUR within it with my take profit at 1.1509 and stop loss slightly above 1.1744.Should the price break below 1.1509,I suggest waiting for a pull back to the just broken line to continue short with EUR towards 1.1337.On the way downwards ,the key lines to look for include,1.1509,1.1337 and 1.1097.

Technical levels

Resistance levels

R1.1.1599

R2.1.163

R3.1.1681

Pivot

1.158

Support levels

S1.1.1549

S2.1.1529

S3.1.1479

Trade signal

Sell EUR/USD within 1.1744-1.1721.

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

Short EUR within 1.1744-1.1721.

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