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New EUR/USD Trade

New EUR/USD Trade

Updated

4H Chart 

EURUSDH4 17 Aug 2021.png

Daily Chart 

EURUSDDaily 17 Aug 2021.png

EUR/USD declined back yesterday after trying to test its 1.18 resistance area, but it failed to do so, declining all the way to 1.1765 during the Asian session today. The daily technical indicators are still showing some bullish signs, which could mean that the upside retracement is not over yet. Therefore, I would like to risk one more trade on EUR/USD today between 1.1765 and 1.1750 with a stop at 1.1725 only, with a possible target of 1.18 followed by 1.1830.

S3 S2 S1 Pivot R1 R2 R3
1.1716 1.1749 1.1764 1.1782 1.1797 1.1815 1.1848

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