FxWirePro: EUR/USD sell below 1.920, bearish in the short term

• EUR /USD fell after breaking support level at 1.0909 levels to hit daily lows at 1.878. The pair is trying to retreated back towards 1.0909 levels.

• The pair is currently trading around 1.0889 levels. It is expected decline further towards 1.0850 and later 1.0820.

• Short rally around 1.930 should be taken as advantage for selling opportunities, as Euro is weak against the US dollar in the short term.

• To the upside, the strong resistance can be seen at 1.0909, a break above this level would take it to upside to next resistance level at 1.0950(61.8% Retracement level).

• To the downside immediate support sits at 1.0868, a break below this level will take the pair to next level at 1.0820 (23.6% Retracement level).

Recommendation: Go short below 1.0900, targets 1.0850, 1. 0820, SL 1.1100

Resistance Levels

R1: 1.0899 (38.2% Retracement level)

R2: 1.0924           

R3: 1.0950(61.8% Retracement level of 1.1030 to 1.0818)

Support Levels

S1: 1.0868

S2: 1.0840

S3: 1.0818