Sell EURUSD from1.11615 with your take pofit at 1.10230. | 26 August 2019

Technical Observation

Last week, Euro rose tremendously but failed to breakout above the turncoat resistance level 1.11615. This is a key level and while the price fails to rise beyond this level, I'm waiting for a bounce from it to pick a low risk sell order towards the verified support level 1.10230. This support, 1.10230, has been tested once and while the price bounces off from it, we are waiting for a clear buy signal. As it is on the 4 hour chart, we expect a possible sell. A break above 1.111615 will push the price higher towards proven resistance level 1.12540.

Trade Recommendations:

Sell EURUSD from 1.11615 with your take profit at 1.10230.