Sell a break below 1.1063 with your take profit at 1.0980. | 10 December 2019

Technical Observation

The columns of MACD has just gone below the 0.00 handle. While these columns remains below this level, I am waiting for the signal line to descend below the 0.00 to confirm that we are indeed bearish with an ideal take profit at the daily low 1.0980. On it way to the lower side, the key levels to look for include 1.1063, 1.1048, 1.1032, 1.1012 and 1.0980. If all these levels are broken, then a momentum towards 1.08 or even lower is expected. But, on the otherside, should the price break above 1.1083, then we will be looking for a low risk buy.

Trade Recommendations:

Sell a break below 1.1063 with your take profit at 1.0980.