Forex Technical Analysis: Trend potential – Sell EURUSD towards 1.09903.


Sell EURUSD towards 1.10622.

Technical Observation

Since the previous day, nothing much has happened on this pair. Eurusd attempted a rise above the 50.0% fib level, 1.10844 but ended up closing below it. While the price is contained below this line, I expect further momentum to the lower side and should break below 61.8% fib level, 1.10622 towards 1.09903. If the price breaks below this level, then a momentum towards 1.09391. On this chart, only sell positions looks ideal, but in case the price breaks above 38.2% fib level then this will mean we’re heading to the upper side

Trade Recommendations:

Sell EURUSD towards 1.09903.

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