FxWirePro: EUR/USD key resistance at 1.0915, sell deals are recommended below 1.0900

 

• The pair is approaching support level at 1.00883. The pair has started decline after failing to break 23.6% Fib at 1.0915, and is moving downwards to test next support  level located at 1.0883(Aug 6^th lows), the resistance level 1.0915 is strong and it is expected to hold the bulls and bring  another decline shortly.

• The pair is trading around 1.0896 levels and it is expected decline towards 1.0860 and 1.0830 levels in the short term.

• To the upside, the strong resistance can be seen at 1.0915 (61.8% Retracement level), a break above this level would take the pair towards next resistance level at 1.1035 (July 15^th high).

• To the downside immediate support can be seen at 1.0883 (Aug 6^th lows), a break below this level will open the door towards next level at 1.0873 (38.2% Retracement level).

Recommendation: Go short below 1.0900, targets 1.0860, 1. 0830, SL 1.0980

Resistance Levels

R1: 1.0915(61.8% Retracement level of 1.0985 to 1.0805)

R2: 1.0940 (Aug 6^th high)

R3: 1.0985(Aug 4^th high)

Support Levels

S1: 1.0883 (Aug 6^th lows)

S2: 1.0873 (38.2% Retracement level)

S3: 1.0848(23.6% Retracement level)