22 November 2018, EUR/USD
Technical observation
The pair on the daily chart above is rallying on a bullish momentum towards 1.1528 and I expect nothing but a loss of this momentum at the line for possible bearish movements towards 1.1216 and a possible breakout below it for a further decline in price. I’m looking pick short positions at 1.1528 after a rejection of price, with my take profit at 1.1216 and stop loss at 1.1646.Should there be a clear breakout above 1.1528 with a big green candle, wait for a correction to it confirming possible bullish movements before you buy EUR. On your way upwards the key lines to look for include; the resistance zone (1.1870-1.1848), 1.2855 and 1.2505.
Trade recommendation
Sell EUR at 1.1528 with your take profit at 1.1216 and stop loss at 1.1646
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