Wait for a correction to sell EUR. | 25 January 2019

25 January 2019, EUR/USD

Wait for a correction to sell EUR.

Technical observation

Yesterday, a breakout was seen when price went down below a support 1.1335 with a big red candle before declining steadily, currently EUR is rallying on an increasing bullish momentum towards the just broken key level and my expectations is a bounce at it for possible bearish price rally towards 1.1268.You can wait for the correction to 1.1335 and sell this pair after a bounce at it with your take profit at 1.1268 and stop loss at 1.1362.In case of a clear penetration below 1.1268 then more downwards movement of EUR will be anticipated. The general trend for the pair on the chart above is downwards so only short positions can be recommended.

Trade recommendation

Wait for a correction to 1.1335 to sell EUR.

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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.
Imelda Maseno
Analyst of «FreshForex» company
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