Remain short | 26 November 2018

26 November 2018, EUR/USD

Remain short

Technical observation

On the weekly chart above, EUR/USD is rallying below a resistance zone 1.1599-1.1535, my expectation is bearish rally towards 1.0437 and a possible breakout below it for a further decline in price. I sold this pair within the above mentioned zone previously and I’m looking to remain short with my take profit at 1.0437 and stop loss at 1.1943, if you had not sold this pair yet, wait for another retracement to the zone and a rejection within it to sell. As long as EUR is contained below the resistance zone 1.1599-1.1535, only short positions are ideal and can be advisable. Long positions may only be recommended above 1.1599-1.1535.

Trade signal

Remain short with your take profit at 1.0437 and stop loss at 1.1943

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

Remain short

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Imelda Maseno
Analyst of «FreshForex» company
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