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Sell EURUSD from within 1.1127-1.1176 with your take profit along the supportive trendline.

Sell EURUSD from within 1.1127-1.1176 with your take profit along the supportive trendline. | 11 December 2019

11 December 2019, EUR/USD

Technical Observation

Yesterday, rather than continuing to the lower side, EURUSD rose massively and even went above our projected sellers area 1.1065. The break above this line is a clear indication that we are continuing to the upperside, we're expecting a possible rally towards 1.1127 and could breakout higher, but should not go beyond 1.1176. The zone 1.1127-1.1176 is a good monthly resistance zone and if the price reaches it, this will give us a good place to pick a long term sell order with our stop loss slightly above 1.1185.

Trade Recommendations:

Sell EURUSD from within 1.1127-1.1176 with your take profit along the supportive trend line.

Imelda Maseno
Analyst of «FreshForex» company
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