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Looking to sell within 1.1288-1.1284

Looking to sell within 1.1288-1.1284 | 23 November 2021

23 November 2021, EUR/USD

Looking to sell within 1.1288-1.1284

Technical observation

For the past few days EUR has been trading on a clear downtrend and I expect this bearish movement to continue should there be a clearly pass the level 1.1237, on the other hand, in case of a clear breakout above the zone 1.1288-1.1284 with a big green candle, I expect a momentum to the upper side. As it is right now, I would advise you wait for a correction to the zone i have mentioned above then short EUR within it with your take profit at 1.3352 and stop loss at 1.1322. If price is not sustained below the zone 1.1288-1.1284 but instead it penetrates above it with a big green candle, wait for a second retracement to the broken zone before you buy EUR.

Trade recommendation

Wait for a correction to the zone 1.1288-1.1284 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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