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We're flat temporarily

We're flat temporarily | 31 December 2018

31 December 2018, EUR/USD

We're flat temporarily

Technical observation

The general trend for the pair on the daily chart above is downwards, price is rallying around a resistance level 1.1454 and my expectation is a rejection of it at the line for possible bearish rally towards 1.1214 and a possible breach below it for a further decline. You can wait for a close at 1.1454 to sell this pair with your take profit at 1.1214 and stop loss at 1.1574.Should there be a clear penetration above 1.1454 with a big green candle then bullish momentum of price will be anticipated towards the resistance zone 1.1845-1.1799.Right now you can remain neutral temporarily and wait for the close at 1.1454 to sell EUR.

Trade recommendation

Remain neutral.

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Imelda Maseno
Analyst of «FreshForex» company
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