Sell EUR within 1.1422-1.1413 | 28 January 2019
28 January 2019, EUR/USD
Technical observation
EUR has been rising steadily towards the resistance zone 1.1422-1.1413, currently price is rallying within the zone and I expect a rejection of it within it followed by bearish rally towards 1.1269, wait for the rejection within the above mentioned zone to sell this pair with your take profit at 1.1269 and stop loss at 1.1450.In case of a breakout below 1.1269, wait for a confirmation of further bearish price rally before you continue short with this pair. Should there be a clear penetration above 1.1422-1.1413 followed by a correction to it more than once then bullish momentum will be anticipated towards the resistance level 1.1539.
Trade recommendation
Sell EUR within 1.1422-1.1413 with your take profit at 1.1269 and stop loss at 1.1450.
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.
