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Wait | 18 February 2020

18 February 2020, EUR/USD

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Technical observation

EUR penetrated below a key level 1.0890. I expect a retracement to the just broken line followed by a rejection at it due to a high bearish pressure for the pair to descend further towards 1.0805. Wait for a correction the key level 1.0890 and a bounce at it to sell EUR with your take profit at 1.0784 and stop loss at 1.0944. In case there’s a penetration above the line 1.0890 I expect a rise to the resistance zone 1.1094-1.1075 followed by a bounce within it for possible bearish movement of price. As long as price is contained below the zone 1.1094-1.1075, only short positions look idea and can be recommended.

Trade recommendation

Wait for a correction to 1.0890 to sell EUR with your take profit at 1.0784

Imelda Maseno
Analyst of «FreshForex» company
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