Technical Analysis Based on Breakout — Sell positions looming
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EURUSD — Up
Technical Observation
Recently, EUR entered into a rising bearish flag and is still confined within this flag. I expect a possible breakout to the lower side to confirm further bearish rally towards1.1167 and even a breakout below. On the hourly chart above, sell positions seems more ideal towards 1.1167. Buy positions can only be recommended above 1.1243 and upon a rejection from 1.1167.
Technical levels:
Resistance levels
R1: 1.1241
R2: 1.1269
R3: 1.1315
Pivot Point 1
.1222
Support Levels
S1: 1.1128
S2: 1.1175
S3: 1.1194
Trade Signal
Short EUR towards 1.1167
You may check other analytical reviews on the web-site of FreshForex company. Source: freshforex.com.
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