Buy EUR within 1.1454-1.1376 | 19 November 2018
19 November 2018, EUR/USD
Technical observation
On the chart above EUR/USD is on an upward trend. After breaking above a resistance zone 1.1454-1.1376, price retraced steadily to the just broken zone and was rejected within it before moving up. Right now it is within the zone and I expect nothing but a bounce within it for possible bullish momentum towards the resistance line 1.2450 and a possible breakout above it for a further rise in price towards the highest resistance 1.3456.In case of a clear breakout below 1.1454-1.1376 with a big red candle, wait for a correction to the just broken zone and a bounce within it before you pick short positions towards the support 1.0438.
Trade recommendation
Buy EUR within 1.1454-1.1376 with your take profit at 1.2450 and stop loss around 1.1000.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
