09 September 2019, EUR/USD
Technical Observation
EURUSD is in an active downtrend. Following the bearish pin bar seen last week on Thursday, I expect Eurusd to continue to the lowerside and should break below 1.09550 towards 1.09160. While the price is contained below the three moving averages acting a dynamic resistance, I expect a steep decline towards 1.09160. On it way downwards, the key lines to look for include 1.09950, and 1.09550. A break below these level will push the price further towards 1.080 or even lower.
Trade Recommendations:
Resell EURUSD from within 1.10524-1.10752 with your take profit at 1.09550.