Remain long with your take profit at 1.1195. | 16 December 2019
16 December 2019, EUR/USD
Technical Observation
Last week on Thursday, Euro established a swing high around 1.1195 and could not breakout higher. Instead the pair bounced off from this level, headed straight to the lowerside but could not reach the 50.0% fib level, just as in GBPUSD, EURUSD bounced off from the 38.2% fib level and is currently on its way to the upper side. The current bullish price rally is the continuation of the previous up trend and should break above 23.6% fib level towards 1.1195 or even higher towards 1.2154.
Trade Recommendations:
Remain long with your take profit at 1.1195.
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.
