05 Diciembre 2018, EUR/USD
Technical observation
The pair on the 4 hour chart above is rallying on a downward trend with several retracements at the key resistance zone 1.1447-1.1432.Right now price is moving on an increasing bearish momentum towards the support level 1.1268 and I expect either a loss of this momentum at the line followed by a pull back to the zone 1.1447-1.1432 or a clear breakout below it followed by a correction to it for further bearish movement of price. In case you already sold this pair within the above mentioned zone, remain short with your ideal target at 1.1268, if you are not in a trade yet, remain flat and wait for either a rejection or a breakout at 1.1268.
Trade recommendation
Remain short with your take profit at 1.1268 and stop loss at 1.1500.
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