Sell a break below 1.18350. | 20 August 2020
20 August 2020, EUR/USD
Technical Observation
EURUSD is currently rallying around 1.18442. On the 1 Hour Chart , the price is bouncing off of the 50.0% fib level. So while the 52 SMA is giving as a sell signal, we may likely see a surge towards 1.19645 and could breakout even lower. On this chart, we are expecting a possible momentum after a break below 50.0 to the lower side towards 1.17180. At this point, Sell Positions looks ideal but only if the price breaks below the 50.0% fib level, this may push price much lower towards 1.17180.
Trade Recommendations:
Sell a break below 1.18350.
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.
