Trade Wait for a possible resell from 1.08199. | 24 Februari 2020

24 Februari 2020, EUR/USD

Trade Wait for a possible resell from 1.08199.

Technical Observation

EURUSD established a swing low around 1.07775 and could not go any lower. After that, the pair retraced back to the upper side almost hitting the 50.0% fib level but could not break to the upperside. We were waiting for a possible rebound from the 50.0% fib level to pick a long term sell order towards 1.07775. Unfortunately, the price moved to the lowerside and is still very much bearish both on the daily charts. As it is now, I recommend looking for long term sell orders towards 1.07775.

Trade Recommendations:

Trade Wait for a possible resell from 1.08199.

Imelda Maseno
Analyst of «FreshForex» company
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