FxWirePro: EUR/USD key resistance at 1.1180, bearish in the short term

>EUR /USD after hitting daily lows at 1.1107, has made a short squeeze towards 1.1170 levels, the gains should be limited around 1.1180 minor resistance level and the pair is expected to flatter further towards 1.1100 and 1.1080 levels in the short term it's good sell this pair below 1.1180 levels.

>To the upside, the strong resistance can be seen at 1.1180, a break above this level would take the pair towards next resistance level at 1.1230 (61.8% Retracement level).

>To the downside immediate support can be seen at 1.1080 levels, a break below this level will open the door towards next level at 1.1053 (Aug 18th lows).

Recommendation: Go short below 1.1170, targets 1.1120, 1.1080, SL 1.1250

Resistance Levels

R1: 1.1155 (50% Retracement level)

R2: 1.1180 (Sep 23rd high)

R3: 1.1230 (61.8% Retracement level)

Support Levels

S1: 1.1080 (38.2% Retracement level)

S2: 1.1053 (Aug 18th lows)

S3: 1.0993 (23.6% Retracement level)