Forex Technical Analysis: Trend potential – Short Euro below 1.15299


Short Euro below 1.15299

Technical Observation:

As I forecasted, Eur bounced off from the 4 hour support line 1.18444, went lower and is still showing signs of rallying even lower. Following the break below 1.14317, I expect a breakout below 1.15299 to confirm a possible rally towards 1.14960 and could go even lower. As it is on the daily chart, I highly recommend looking for short positions below 1.15299. On your way downwards, the key lines to check for include 1.1496. 1.1400 and 1.1430

Technical Levels

Resistance levels

R1: 1.1808

R2: 1.1838

R3: 1.1889
Support Levels
R2: 1.1742
R3: 1.1751
Trade Signal
Short Euro below 1.15299

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