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Wait for a sell from 1.11261.

Wait for a sell from 1.11261. | 27 December 2019

27 December 2019, EUR/USD

Wait for a sell from 1.11261.

Technical Observation

EURUSD barely hit the daily low 1.10531 before pulling back to the upper side. We expect further retracement rally to the upper side but should not go beyond 50.0% fib level, If you're looking for a possible low risk trade, either sell a bounce from 1.11261 or wait for a clear breakout above it to pick a long term buy order. On this chart, the key levels to focus on include 1.10531, 1.108976, 1.1086, 1.11261, 1.11434 and 1.11647. If the price approaches any of these levels, we'll be looking for a trade.

Trade Recommendations:

Wait for a sell from 1.11261.

Imelda Maseno
Analyst of «FreshForex» company
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