Remain flat | 22 January 2019
22 January 2019, EUR/USD
Technical observation
EUR is rallying around a support level marked at 1.1352, I expect a rejection of it at the line followed by a correction to the resistance 1.1413 to sell this pair with my take profit at 1.1352 and stop loss at 1.1434. Should there be a clear penetration below 1.1352, wait for a correction to it confirming possible further bearish price rally before you continue short with this pair. As long as EUR is contained below the resistance level 1.1413 only downwards movement of price can be anticipated but should there be a clear breach above it followed by a correction to it more than once then bullish price rally towards 1.1484 can be expected.
Trade recommendation
Remain flat.
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.
