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Sell a break below 1.101048 with your take profit at 1.10980.

Sell a break below 1.101048 with your take profit at 1.10980. | 09 December 2019

09 December 2019, EUR/USD

Technical Observation

According to the MACD indicator attached, we're heading towards the oversold level. I'm waiting for the signal line to clearly descend below the Macd Columns to pick a low risk sell order. If the price can break and close below 50.0% fib level, then I will expect a possible momentum even lower. On its way to the lowerside, the key levels to look for include 1.1032, 1.1012 and 1.0980. In case the price breaks below the daily low, then further momentum even lower is expected towards 1.081.

Trade Recommendations:

Sell a break below 1.101048 with your take profit at 1.10980.

Imelda Maseno
Analyst of «FreshForex» company
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