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Look for sell orders below 1.11705

Look for sell orders below 1.11705 | 07 Agosto 2019

07 Agosto 2019, EUR/USD

Look for sell orders below 1.11705

Technical Observation

According to the Weekly MM Cycle indicator, shown on the separate window above, Euro is currently trading in an active downtrend. While the price is contained below the previous day's highest high, I recommend looking for long term sell orders with an ultimate target at 1.11490, the idea is to wait for pullbacks to the upperside to pick low risk sell orders. And in case the price breaks above the previous day's highest high, then further momentum to the upperside is expected, with the next ideal target being 1.13.

Trade Recommendations:

Look for sell orders below 1.11705

Imelda Maseno
Analyst of «FreshForex» company
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