Conservative traders should wait and sell a break below 1.09988. | 25 November 2019
25 November 2019, EUR/USD
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.
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.
