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Looking to sell within 1.1511-1.1469

Looking to sell within 1.1511-1.1469 | 13 December 2021

13 December 2021, EUR/USD

Looking to sell within 1.1511-1.1469

Technical observation

For the past two consecutive weeks the pair on the weekly chart above has been trading with an increasing bullish bias, I expect a continuation of this upwards movement to the resistance zone 1.1511-1.1469 followed by a rejection within it to pick short positions. My advice, remain neutral and wait for a correction to the above mentioned zone then short EUR within it with your take profit at 1.0813 and stop loss at 1.1754. Should there be a clear breakout below the level 1.0813 with a big red candle, I expect a further momentum to the lower side. On the chart above, as long as EUR is sustained below the zone 1.1511-1.1469, I can only recommend short positions.

Trade recommendation

Wait for a correction to the zone 1.1511-1.1469 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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