Forex Technical Analysis: Trend potential – Sell EUR at 1.1534

EURUSD – Up

Sell EUR at 1.1534

Technical observation

Yesterday this pair was rising towards the resistance line 1.1534 but closed below it.I still expect a rally towards the line and a rejection at it for possible bearish momentum towards 1.1316 and a possible breach below it for a further decline in price. I’m looking to sell this pair at 1.1534 with my take profit at 1.3316 and stop loss around 1.1641, as long as it remains below 1.1534 only short positions are ideal and can be advisable. Long positions may only be recommended in case of a clear break above the key resistance zone 1.1823-1.1802 with a big green candle followed by a correction to it confirming possible bullish momentum.

Trade recommendation

Short EUR at 1.1534 with your take profit at 1.3316 and stop loss around 1.1641.

Do you know against which currencies EUR is the most profitable?

Sell EUR at 1.1534

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