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Wait for a rebuy 61.8% towards 1.1170.

Wait for a rebuy 61.8% towards 1.1170. | 27 Noviembre 2019

27 Noviembre 2019, EUR/USD

Wait for a rebuy 61.8% towards 1.1170.

Technical Observation

A fortnight ago, Euro pulled back towards the 61.8% fib level but could not clearly break below it. We took a buy following the buy from the 61.8% fib level and is still above this level, I expect further momentum to the upper side and should breakout above 50.0% fib level and could breakout even higher. The next best place to buy from is if the price breaks and closes above 38.2% fib level, if this is true, then a momentum towards 1.1170 is expected, a break above will push the price even higher.

Trade Recommendations:

Wait for a rebuy 61.8% towards 1.1170.

Imelda Maseno
Analyst of «FreshForex» company
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