michaelaott

EURUSD Short - Stalling at Key Resistance

Short
FX:EURUSD   Euro / Dollaro
EUR/USD is finding resistance at the upper bound of the downtrend that began in March 2018. This resistance is matched with the 50% retracement of the January 2017 to February 2018 uptrend (red line), and R1 of the weekly pivot points (blue line). The weekly pivot point of 1.1371 is indicated by the green line. A close of the daily candle above the diagonal downtrend line, followed by a confirmation candle, could signal an upward move to the 38% fib retracement line, indicated by the red line at 1.1710.
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