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Remain short with your take profit at 1.1248

Remain short with your take profit at 1.1248 | 25 February 2019

25 February 2019, EUR/USD

Technical observation

EUR is trading on an increasing bearish momentum below a resistance zone 1.1355-1.1348, I expect a decline in price towards 1.1248 and a possible breakout below it for a further decline. In case you sold this pair within 1.1355-1.1348 after a bounce, hold on to that position with your take profit at 1.1248 and stop loss at 1.1387, if you had not sold EUR yet you can still sell it now with your take profit at 1.1248.On the 4 hour chart above long positions may only be recommended should there be a clear break above 1.1355-1.1348 with a big green candle followed by a correction to it and a rejection within it confirming bullish price rally.

Trade recommendation

Remain short with your take profit at 1.1248 and stop loss at 1.1387.

Imelda Maseno
Analyst of «FreshForex» company
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