Short towards 1.0788 | 12 February 2020
12 February 2020, EUR/USD
Technical observation
EUR is currently trading with an increasing bearish momentum. Two weeks ago price corrected to the resistance zone this pair established around 1.1181-1.1151 but could not break above it and was rejected. My expectation is for this downward movement to continue towards the key level 1.0788 followed by a possible breakout below it with a big red candle. If you sold EUR within the zone 1.1181-1.1151 after a rejection, remain short with your take profit at 1.0788 and stop loss at 1.1373. Continue short towards the key level 1.0335 after a breakout below the line 1.0788 and a correction to it.
Trade recommendation
Remain short towards 1.0788.
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.
