26 November 2018, EUR/USD
Technical observation
On the weekly chart above, EUR/USD is rallying below a resistance zone 1.1599-1.1535, my expectation is bearish rally towards 1.0437 and a possible breakout below it for a further decline in price. I sold this pair within the above mentioned zone previously and I’m looking to remain short with my take profit at 1.0437 and stop loss at 1.1943, if you had not sold this pair yet, wait for another retracement to the zone and a rejection within it to sell. As long as EUR is contained below the resistance zone 1.1599-1.1535, only short positions are ideal and can be advisable. Long positions may only be recommended above 1.1599-1.1535.
Trade signal
Remain short with your take profit at 1.0437 and stop loss at 1.1943
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