24 Desember 2018, EUR/USD
Technical observation
On the daily chart above, price is rallying on an increasing bearish momentum towards the support 1.1214, I picked short position at the resistance 1.1454 and I’m holding on to this position with my take profit at 1.1214 and stop loss at 1.1584. Should there be a clear penetration below 1.1214 with a big red candle, wait for a correction to it confirming further bearish price rally before you continue short with this pair. As long EUR is contained below 1.1454, only short positions look ideal and can be recommended. If you are not short yet, wait for both another correction to 1.1454 or a breach below 1.1214 and a correction to it to it to sell EUR.
Trade recommendation
Remain short.
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