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Conservative traders should wait and sell a break below 1.09988.

Conservative traders should wait and sell a break below 1.09988. | 25 November 2019

25 November 2019, EUR/USD

Conservative traders should wait and sell a break below 1.09988.

Technical Observation

Near the end of last week, the trend indicator attached gave us a good sell signal. The price however, is approaching a good support level 1.09988, this is a key level and while the price is contained above it, I expect a possible momentum towards 1.09988 and could breakout even lower. If you're a bit skeptic to pick a sell now, you could wait for a clear breakout below 1.09988 to pick a long term sell order. But in case of a bounce from 1.09988, then this will give us a good place to pick a long term buy order.

Trade Recommendations:

Conservative traders should wait and sell a break below 1.09988.

Imelda Maseno
Analyst of «FreshForex» company
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