Home Daily Analysis Charts / Trade Ideas EUR/USD: Price to Test Closest Resistance – Is It Worth Selling?

EUR/USD: Price to Test Closest Resistance – Is It Worth Selling?

107
0

EUR/USD bounced off slightly from 1.1150 to 1.1160 during the European session as the trade war between the U.S. and China is not moving off and even going critical as Google is restricting its communications with Huawei, the Chinese telecommunications beast.

Technically, there’s a ‘Shooting Star’, which has been validated the setup. It’s expected to have a restricted upward correction towards the nearest resistance at 1.1195 in the coming days.

The following pullback from this level could be an opening point for a drop towards another support at 1.1125 and 1.1064. If any bullish pattern completes around 1.1130 level, there’ll be a moment to have an upward correction until 1.1168 and 1.11850.

R3: 1.1224
R2: 1.1195
R1: 1.1176
Key Trading Level: 1.1166
S1: 1.1147
S2: 1.1136
S3: 1.1107

EUR/USD – Trade Tip

Consider staying bearish under 1.11750 to target 1.1130 at first and then 1.1101. All the best!

LEAVE A REPLY

Please enter your comment!
Please enter your name here