Remain flat | 27 December 2018

27 December 2018, EUR/USD

Remain flat

Technical observation

EUR/USD is rallying on an increasing bullish momentum towards the key resistance zone 1.1431-1.1427, my expectation is a loss of this momentum within the zone followed by possible bearish price movements towards the support 1.1354.Right now you can remain flat and wait for the correction to the above mentioned zone and a bounce within it to pick short position with your take profit at 1.1354 and stop loss at 1.1454.Should there be a clear penetration below the level 1.1354, wait for a correction to it confirming further bearish price rally before you continue short with this pair towards the lowest support 1.1299.

Trade recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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