We're flat | 06 December 2018

Technical observation

EUR/USD is still declining towards the support 1.1277 and my expectation is a clear breakout below it with a big red candle followed by a correction to it confirming further bearish price rally. Should there be a decline to 1.1277 followed by bounce at and a pullback to 1.1447-1.1432 then you can still pick short position within the zone with your ideal target at 1.1277.In case of a clear penetration above the mentioned zone, wait for a confirmation of possible bullish price rally before you pick long positions. On your way upwards the lines to look for include; the resistance line 1.1611 and the highest resistance 1.1733.Now remain flat.

Trade recommendation

Remain flat.

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