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Remain short with your take profit at 1.0437.

Remain short with your take profit at 1.0437. | 18 February 2019

18 February 2019, EUR/USD

Technical observation

For the past two weeks, EUR has been declining steadily towards a support 1.0437 and I still expect more of this movements this week, If you sold this pair within 1.1535-1.1443 after a bounce, you can hold on to that position with your take profit still at 1.0437 and stop loss at 1.1814, if you had not sold this pair yet, wait for another retracement to the zone mentioned above and a bounce within it to sell EUR. With price contained below 1.1535-1.1443 on the weekly chart above, only short positions look ideal and may be recommended, long positions may only be advisable in case of a breakout above 1.1535-1.1443 followed by a correction to it.

Trade recommendation

Remain short with your take profit at 1.0437.

Imelda Maseno
Analyst of «FreshForex» company
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