Sell EURUSD from within 1.1127-1.1176 with your take profit along the supportive trendline. | 11 December 2019
11 December 2019, EUR/USD
Technical Observation
Yesterday, rather than continuing to the lower side, EURUSD rose massively and even went above our projected sellers area 1.1065. The break above this line is a clear indication that we are continuing to the upperside, we're expecting a possible rally towards 1.1127 and could breakout higher, but should not go beyond 1.1176. The zone 1.1127-1.1176 is a good monthly resistance zone and if the price reaches it, this will give us a good place to pick a long term sell order with our stop loss slightly above 1.1185.
Trade Recommendations:
Sell EURUSD from within 1.1127-1.1176 with your take profit along the supportive trend line.
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.
