22 November 2018, EUR/USD
Technical observation
The pair on the daily chart above is rallying on a bullish momentum towards 1.1528 and I expect nothing but a loss of this momentum at the line for possible bearish movements towards 1.1216 and a possible breakout below it for a further decline in price. I’m looking pick short positions at 1.1528 after a rejection of price, with my take profit at 1.1216 and stop loss at 1.1646.Should there be a clear breakout above 1.1528 with a big green candle, wait for a correction to it confirming possible bullish movements before you buy EUR. On your way upwards the key lines to look for include; the resistance zone (1.1870-1.1848), 1.2855 and 1.2505.
Trade recommendation
Sell EUR at 1.1528 with your take profit at 1.1216 and stop loss at 1.1646
Do you know against which currencies EUR is the most profitable?
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