Wait | 24 January 2020

Technical observation

Yesterday price penetrated below the trend line indicated on the daily chart above with a big red candle and is currently rallying below it. I expect a retracement to the just broken line followed by a rejection at it for possible bearish movements of EUR towards the supportive level.1.0992. Sell EUR at the trend line shown on the daily chart above after a retracement to it with your take profit at 1.0992 and stop loss at 1.1135. If price hits the level 1.0992 and there is a clear breach below it, wait for a correction to it and a rejection confirming further downwards movement of price before you sell EUR.

Trade recommendation

Wait for a correction to sell EUR.