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Remain flat temporarily.

Remain flat temporarily. | 10 December 2018

10 December 2018, EUR/USD

Remain flat temporarily.

Technical observation

EUR/USD is correcting to the resistance zone 1.1542-1.1457 and my expectation is a rejection within it followed by possible bearish price rally towards the support 1.0437 and a breakout below it for a further decline in price. Right now you can remain flat temporarily and wait for a close within the above mentioned zone to pick short position with your take profit at 1.0437 and stop loss at 1.1858.Should there be no rejection within the zone but a clear penetration above it, wait for a pullback to the just broken zone confirming possible bullish price rally before you pick long positions within the zone with your ideal target at 1.2456.

Trade recommendation

Remain flat temporarily.

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Imelda Maseno
Analyst of «FreshForex» company
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