EUR /USD pair made some gains against US dollar in today's in early US session, however, the gains were limited and the pair fell back towards 1.1150 levels after hitting 50% fib resistance at 1. resistance level at 1.1177 is set to hold the bulls from advancing further, and bring a decline, therefore it's good to go short in this pair at bounce.
- To the upside, the strong resistance can be seen at 1.1211, a break above this level would take the pair towards next resistance level at 1.1245 levels.
- To the downside immediate support can be seen at 1.1140, a break below this level will open the door towards next level at 1.1096 (23.6% Retracement level).
Recommendation: Go short below 1.1215, targets 1.1180, 1.1140, SL 1.1320
Resistance Levels
R1: 1.1178 (50% Retracement level)
R2: 1.1211 (61.8% Retracement level)
R3: 1.1244 (Sep 3st high)
Support Levels
S1: 1.1140 (38.2% Retracement level)
S2: 1.1096 (23.6% Retracement level)
S3: 1.1020 (Aug 19th)
