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Wait for a possible 61.8% retracement to pick a low risk buy.

Wait for a possible 61.8% retracement to pick a low risk buy. | 04 December 2019

04 December 2019, EUR/USD

Wait for a possible 61.8% retracement to pick a low risk buy.

Technical Observation

EURUSD is currently in an active up trend. We marked the previous week's lowest low as the swing low and the current week's highest high as the swing high. We're expect a possible 61.8% fib retracement to give us a low risk buy order. As it is on the 4 hours chart attached, should the price break and close above 1.10950, then this will be a good sign that we are continuing to the upper side with the next take profit level being 1.11655. On its way upwards, the key levels to look for include 1.11185, and 1.11420.

Trade Recommendations:

Wait for a possible 61.8% retracement to pick a low risk buy.

Imelda Maseno
Analyst of «FreshForex» company
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