Short EUR at 1.1351 | 15 November 2018

15 November 2018, EUR/USD

Short EUR at 1.1351

Technical observation

On the chart above, EUR/USD is moving on an increasing bullish momentum steadily towards the resistance line 1.1351 and I expect nothing but a loss of this momentum at it followed by possible bearish momentum towards 1.1217 and a breakout below it for a further decline in price. I’m looking to sell this pair at 1.1351 with my take profit at 1.1217 and stop loss around 1.1409.Should there be break above 1.1351 with big green candle, wait for a pull back to the just broken line confirming possible bullish movements before you pick long positions on the second correction to the line just to ensure the breakout is not false.

Trade recommendation

Sell EUR/USD at 1.1351 with my take profit at 1.1217 and stop loss around 1.1409.

Do you know against which currencies EUR is the most profitable?

Short EUR at 1.1351

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Imelda Maseno
Analyst of «FreshForex» company
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