11 September 2019, EUR/USD
Technical Observation
EURUSD was in an active downtrend after breaking below 1.10740 but as it looks now, We're likely to see a retracement towards 1.10740. A breakout above this level could be a good confirmation that we're continuing to the upperside towards 1.12655. Since the higher timeframes looks very bearish, we're expecting the current move to the upperside to be a correction and should not go beyond 1.10740. In case the price bounces off from 1.10740, then this will be a good place to look for sell orders towards 1.09735.
Trade Recommendations:
Sell EURUSD from 1.10740 with your take profit at 1.09440.