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Remain short with your take profit at 1.1102

Remain short with your take profit at 1.1102 | 21 May 2019

21 May 2019, EUR/USD

Technical observation

On the chart above price went down below a supportive level 1.1170 with a big red candle before pulling back to it, it was rejected at the line and is currently trading on an increasing bearish momentum towards a supportive level 1.1102, if you sold this pair at the line 1.1170 after a bounce, hold on to that position with your take profit at 1.1102 and stop loss at 1.1198, if you had not sold EUR yet, you can still short it now. Should there be a clear breach below the line 1.1120, more bearish price rally of this pair can be expected. As it is on the 4 hour chart above only short positions look ideal and may be advisable.

Trade recommendation

Remain short with your take profit at 1.1102 and stop loss at 1.1198.

Imelda Maseno
Analyst of «FreshForex» company
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