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Re-sell EUR at 1.1447

Re-sell EUR at 1.1447 | 14 December 2018

14 December 2018, EUR/USD

Re-sell EUR at 1.1447

Technical observation

EUR is rising towards the resistance level 1.1447 and I expect a bounce at it followed by possible bearish price momentum towards the support level 1.1214 and a breakout below it for a further decline in price. I am waiting for the correction to 1.1447 and a rejection at it to re-sell this pair with my take profit at 1.1214 and stop loss at 1.1548.As long as EUR is contained below the level 1.1447, only short positions only bearish price movements can be expected. Long positions may only be advisable should there be a clear penetration above 1.1447 with a big green candle followed by a correction to it confirming possible bullish price rally.

Trade recommendation

Re-sell EUR at 1.1447 with your take profit at 1.1214 and stop loss at 1.1548.

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Re-sell EUR at 1.1447

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Imelda Maseno
Analyst of «FreshForex» company
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