We're short within 1.1536-1.1459 | 29 November 2018

29 November 2018, EUR/USD

We're short within 1.1536-1.1459

Technical observation

For the past few days since the beginning of this week, EUR/USD has been rising towards the resistance zone 1.1536-1.1459 but it is still below it and as long as it is contained below this zone, we expect nothing but bearish momentum to the lower side, and should the price break above the zone then bullish momentum towards 1.2456 will be anticipated. Right now I expect rally to the above mentioned zone and a possible rejection within it at the end of this trading week to pick short positions with my take profit at 1.0437 and stop loss at 1.1872.Long positions may only be advisable above 1.1536-1.1459 towards the resistance 1.2456.

Trade recommendation

Sell this cable within 1.1536-1.1459 with your take profit at 1.0437 and stop loss at 1.1872.

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Imelda Maseno
Analyst of «FreshForex» company
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