Sell EURUSD towards the supportive trendline. | 02 Januari 2020

02 Januari 2020, EUR/USD

Sell EURUSD towards  the supportive trendline.

Technical Observation

Euro continued to rally to the upper-side but is currently around a resistance trend line and is not showing any signs of breaking even higher. While the price is not breaking above the upper trend line, we are looking for sell order. Overall, according to the trend indicator attached, I expect further momentum to the upper side, this view is supported by the fact that the MACD indicator columns are above 0.0 and could mean we are continuing to the upper side towards 1.3870 or even higher.

Trade Recommendations:

Sell EURUSD towards the supportive trendline.

Imelda Maseno
Analyst of «FreshForex» company
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