Sell EUR now at 1.1307 | 14 Noviembre 2018

14 Noviembre 2018, EUR/USD

Technical observation

The general trend for the pair on the 4 Hour chart above is downwards. EUR/USD rose steadily towards the resistance 1.1307 and price could not penetrate above it and so it was rejected at it and is currently rallying on a bearish momentum towards 1.1217.I expect a loss of this momentum at 1.1217 or a clear breakout below it for a further decline in price. In case of a rejection at 1.1217,wait for another pullback to the resistance line 1.1307 to re-sell EUR, and should there be a clear break below 1.1217 with a big red candle, wait for a correction to it confirming further downward movement of price before you continue short.

Trade recommendation

Sell EUR now at 1.1307 with your take profit at 1.1217 and stop loss around 1.1369.

Do you know against which currencies EUR is the most profitable?

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Imelda Maseno
Analyst of «FreshForex» company
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