Wait for retracements towards 1.10793 to pick a low risk sell order. | 30 Agustus 2019

30 Agustus 2019, EUR/USD

Wait for a bounce from around 1.10330 to pick a buy.

Technical Observation

Yesterday, EURUSD went striaght to the lowerside and is now below a significant level 1.10793. This is a key daily level and while the price is held below it, I expect nothing but a possible momentum further to the lowerside. If the current week's candle candle close below 1.0793, then this week, and possibly during the next week, we'll expect nothing but a possible momentum to the lowerside. The idea is to wait for retracements back towards 1.10793 to pick low risk sell orders towards 1.099.

Trade Recommendations:

Wait for retracements towards 1.10793 to pick a low risk sell order.

Imelda Maseno
Analyst of «FreshForex» company
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