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Re-sell EUR at 1.1351

Re-sell EUR at 1.1351 | 16 November 2018

16 November 2018, EUR/USD

Re-sell EUR at 1.1351

Technical observation

EUR/USD went down as predicted but could not reach the supportive line 1.1217, price then corrected to the resistance line 1.1351 but was rejected and could not penetrate above it and is currently rallying towards 1.1217. I expect a possible breakout below it followed by a correction to it for a further decline in price, or a rejection at it followed by a pullback to 1.1351 for downwards movements. You can sell this pair now at 1.1351 with your take profit at 1.1217 and stop loss around 1.1411.Should there be break above 1.3151 with a big green candle, that would be the ideal place to buy EUR towards 1.1538 after a correction to it.

Trade recommendation

Short EUR now with your take profit at 1.1217 and stop loss around 1.1411.

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

Re-sell EUR at 1.1351

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Imelda Maseno
Analyst of «FreshForex» company
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