Remain flat | 20 December 2018

Technical observation

This week USD is trading below a key resistance zone 114.52-113.71.Price has been declining steadily towards 106.20 and I still expect more bearish momentum in the weeks to come. As long as this pair is contained below the above mentioned zone only short positions may be recommended, long positions may only be advisable in case of a clear penetration above 114.52-113.71 with a big green candle followed by a correction to it for possible bullish momentum towards the resistance 121.70.I picked short position within 114.52-113.71 this week and I’m holding on to this position with my take profit at 106.20 and stop loss at 117.49.

Trade recommendation

Remain short.

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