A good sell trade for position traders | 11 Desember 2017
11 Desember 2017, EUR/USD
Technical Observation:
Eur is currently rallying around a key monthly resistance zone 1.2035-1.1744. Unless there's a clear breakout above this zone with a big green candle, this is a potential sell place for position traders. But if the price should breakout above 1.2035, then wait for a retracement to the just broken line then Buy Eur towards 1.4618. The idea is to look for a clear sell signal within this zone with an ideal take profit fixed at 0.8582. On the way downwards, the key lines to look for include 1.1434, 1.0503 and 0.9661. If these lines are broken, the I expect a decline towards 0.8582.
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