Technical Analysis Based on Breakout – flat

EURUSD – Up
flat
Technical Observation:
Yesterday, Eur traded with an increasing bearish bias and even broke out below the support line 1.1667 with a big red candle. This is bearish dominance indication, and unless the price gets back above 1.1667 with a big green candle, I expect further decline in price towards 1.1499 or even lower to 1.13. As it is on the 4 hour chart above, I’m waiting for a slight pullback towards 1.1667 to pick a short position towards 1.1499. My advice, wait and sell Eur around 1.1667 towards 1.1499.
Technical Levels
Resistance levels
R1: 1.1773
R2: 1.1936
R3: 1.2199
Pivot
1.1673
Support Levels
S1: 1.1148
S2: 1.1411
S3: 1.151
Trade Signal
Flat

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