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We're short towards 1.1212

We're short towards 1.1212 | 23 April 2019

23 April 2019, EUR/USD

We're short towards 1.1212

Technical observation

Recently price penetrated above a resistance level 1.1254 but could not be contained above it, it then went down before correcting to 1.1254 and was contained. Currently EUR rallying on an increasing bearish momentum towards a key level 1.1212, if you sold this pair at 1.1254 after a rejection, remain short with your take profit at 1.1212 and stop loss at 1.1264, if you had sold EUR yet, wait for another correction to 1.1254 and a rejection at it or a clear breach below 1.1212 followed by a correction to it to sell EUR. As long as price is contained below the line 1.1254, only short positions can be recommended.

Trade recommendation

Remain short with your take profit at 1.1212 and stop loss at 1.1264.

Imelda Maseno
Analyst of «FreshForex» company
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