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Wait for a possible long term sell from within 1.1127-1.1176 with your take profit at 1.0905.

Wait for a possible long term sell from within 1.1127-1.1176 with your take profit at 1.0905. | 12 Diciembre 2019

12 Diciembre 2019, EUR/USD

Technical Observation

Yesterday, EURUSD spiked massively to the upper side and is currently around the monthly resistance zone 1.1127-1.1176. This is a key zone and as long as the price remains below it, we expect nothing but a possible momentum to the lower side, we're basically waiting for a bounce from around 1.1127-1.1176 to pick a long term sell order. This sell should push the price below the supportive trend line so that we continue even lower towards 1.0905. If the price breaks and closes above 1.1176, then this will give us an ideal place to pick a buy.

Trade Recommendations;

Wait for a possible long term sell from within 1.1127-1.1176 with your take profit at 1.0905.

Imelda Maseno
Analyst of «FreshForex» company
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