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Sell EURUSD towards 1.11271.

Sell EURUSD towards 1.11271. | 03 January 2020

03 January 2020, EUR/USD

Sell EURUSD towards 1.11271.

Technical Observation

Few days ago, EURUSD established a resistance around 1.12213 and could not breakout any higher. Following this bounce, EURUSD went to the lower side and is now below 1.11881, we expect the current bearish price rally to continue even lower towards 50.0% fib level. On its way to the lower side, the key lines to look for include 1.11593, 1.11415 and 1.11127. And on the other side, should the price rally to the upper side, then we will be waiting for a breakout above 1.12213 to pick a long term buy order.

Trade Recommendations:

Sell EURUSD towards 1.11271.

Imelda Maseno
Analyst of «FreshForex» company
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