Forex Technical Analysis: Trend potential – Sell EUR at 1.1454

EURUSD – Up

Sell EUR at 1.1454

Technical observation

EUR/USD rose to the key resistance line 1.1454 but could not penetrate above it and was rejected, right now price is rallying below the line and my expectation is possible bearish rally towards the level 1.1214 and a breakout below it for a further decline in price. You can pick short position at 1.1454 with your take profit at 1.1214 and stop loss at 1.1584.Should there be a clear penetration above 1.1454 with a big green candle, wait for a correction to it confirming possible bullish momentum of EUR you pick long position with your ideal target at the resistance level 1.1799 or even higher at the level 1.2185 and stop loss at 1.1335.

Trade recommendation

Sell EUR at 1.1454 with your take profit at 1.1214 and stop loss at 1.1584.

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