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Wait and sell a break below the daily low 1.09889.

Wait and sell a break below the daily low 1.09889. | 28 November 2019

28 November 2019, EUR/USD

Wait and sell a break below the daily low 1.09889.

Technical Observation

Yesterday, EURUSD rallied to the lowerside, almost hit the daily low 1.09889 but could not close lower. We're waiting for a clear breakout below this level to confirm that we are continuing to the lowerside with our take profit at 1.088. On this chart, to the upperside, the levels where the price can retrace back up to include 1.10144, 1.10301, 1.10428 and 1.10556. If the price goes above these levels, then a rally towards the daily high is likely. Right now, the trend is downwards, and therefore, only sell positions looks ideal and can be recommended.

Trade Recommendations:

Wait and sell a break below the daily low 1.09889.

Imelda Maseno
Analyst of «FreshForex» company
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