Remain short with a take profit at 1.1726 | 08 Desember 2017
08 Desember 2017, EUR/USD
Technical Observation:
My stop was taken out when price pulled back above 1.1805 yesterday. Despite this, Eur is still bearish and could continue to fall even during this trading day. Therefore, instead of looking for a long position, I'm only into short positions towards 1.1726. This downward rally is backed up by the fact that the daily chart is a bearish continuation candle and push the price further lower after breaking below 1.1726. As it is, only a short position can be advised. But if the price rise above the previous day's highest high, then a rise towards 1.1865 is expected.
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