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Remain short with your take profit at 1.1214.

Remain short with your take profit at 1.1214. | 05 February 2019

05 February 2019, EUR/USD

Remain short with your take profit at 1.1214.

Technical observation

Yesterday, EUR did not penetrate above the resistance zone1.1506-1.1473, instead it was rejected within it and went down. Currently this pair is still moving on bearish momentum and I expect a decline towards 1.1214 and a possible breakout below it for a further decline in price. In case you sold this pair yesterday within the above mentioned zone you can hold on to that position with your take profit at 1.1214 and stop loss at 1.1624, if you had not sold it yet wait for another retracement to the zone and a bounce within it to sell EUR or a clear penetration below 1.1214 followed by a correction to it confirming further bearish movements.

Trade recommendation

Remain short with your take profit at 1.1214.

Do you know against which currencies EUR is the most profitable?

Remain short with your take profit at 1.1214.

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Imelda Maseno
Analyst of «FreshForex» company
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