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Sell EurUsd From 1.12845, stoploss above last week's highest high

Sell EurUsd From 1.12845, stoploss above last week's highest high | 12 March 2019

12 March 2019, EUR/USD

Technical Observation

Eurusd is currently trading in a downtrend. Last week, this pair declined steadily and is now below a key weekly line 1.12845. This is a key line and while the price is below it, I expect an acceleration to the lower side towards 1.08670. The idea here is to wait for a rise towards the just broken line to pick a low risk sell towards 1.08670. On its way downwards, the key lines to look for possible trades include 1.11196, 1.109520, 1.08670. According to the chart We're looking at, this pair is likely to sell off from 1.12845, but in case of a close above 1.12845, then we'll look for a buy.

Trade Signal

Sell EurUsd From 1.12845, stoploss above last week's highest high

Imelda Maseno
Analyst of «FreshForex» company
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