Wait for a sell from around 50.0% fib level. | 18 November 2019
18 November 2019, EUR/USD
Technical Observation
Last week, EURUSD established a 4 hour support around 1.0995. While the price is held above this level, I expect the current move to the upper side to be the continuation of a correction to the upper side but should not go above the 50.0% fib level, in case the price breaks and closes above this fib line, then the trend has changed to the upper side. As it is now, I'm waiting for a bounce from the 50.% fib level to pick a long term sell order towards 1.0995. On its way downwards, the key levels to look for include 1.1035 and 1.1015.
Trade Recommendations:
Wait for a sell from around 50.0% fib level.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
