21 November 2018, EUR/USD
Technical observation
The pair on the daily chart above was declined at the key line 1.1452 before moving down and I expect bearish momentum towards the support 1.1217 followed by either a bounce at it for another retracement to 1.1452 or, a clear breakout below it followed by a correction for downward movement. As long as price remains below the line 1.1452, this pair is bearish and is bound downwards so only short positions can be advisable. I sold EUR yesterday at 1.1452 and I’m holding on to this position with my take profit at 1.1217 and stop loss around 1.1576.Long positions may only be advisable above 1.1452 towards 1.1809.
Trade recommendation
Remain short with your take profit at 1.1217 and stop loss around 1.1576.
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