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We're short towards 1.1106.

We're short towards 1.1106. | 09 July 2019

09 July 2019, EUR/USD

Technical observation

EUR is still rallying downwards towards the key level 1.1106 as I had previously stated and I expect a possible breach below the level for a more bearish price rally. If you are currently short, remain in the trade and pick your profits at 1.1106, if you are not short yet wait for a clear breakout below the line 1.1106 with a big red candle followed by a pullback to it to sell EUR with your take profit at 1.0835 and stop loss at 1.1193. On your way downwards the levels to look for include 1.0835 and the lowest support 1.0489. On the daily chart above long positions may only be recommended above the resistance zone 1.1472-1.1454.

Trade recommendation

Remain short with your take profit at 1.1106.

Imelda Maseno
Analyst of «FreshForex» company
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