Sell within 1.1116-1.1108. | 21 August 2019

Technical observation

Yesterday EUR corrected to the zone 1.1116-1.1108 as expected and was rejected then went down for some time. Currently it is trading on an increasing bullish momentum towards the same zone and I expect a rejection of it within the zone for bearish price rally towards the key level 1.1025 followed by a clear penetration below it. My advice, wait for a correction to 1.1116-1.1108 and a bounce within it to sell EUR with your take profit at 1.1025 and stop loss at 1.1149. Should there be a clear breach above 1.1116-1.1108, wait for a retracement to the just broken zone and a bounce within it before you buy EUR.

Trade recommendation

Sell EUR within 1.1116-1.1108.