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Wait for a possible rebuy from around 1.1107-1.1115 with your take profit at 1.1199.

Wait for a possible rebuy from around 1.1107-1.1115 with your take profit at 1.1199. | 17 December 2019

17 December 2019, EUR/USD

Technical Observation

After a 50.0% fib retracement, EURUSD could not break below the zone 1.1107-1.1115. While the price is held above these two lines, I recommend looking for a possible long term buy order with an ideal take profit at 1.1199. ON its way upwards, the key lines to look for include 1.1153, 1.1170 and 1.1185. In case of a breach of any of these lines to the upper side, then that will be a good continuation sign. But on the other side, should the price break and close below 1.1107, or 50.0% fib retracement, then a momentum to the lower side is expected.

Trade Recommendations:

Wait for a possible rebuy from around 1.1107-1.1115 with your take profit at 1.1199.

Imelda Maseno
Analyst of «FreshForex» company
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