Forex Technical Analysis: Trend potential – Short EUR at 1.1534

EURUSD – Up

Technical observation

The pair on the daily chart above was rejected at a support and is currently correcting to the resistance 1.1534, I expect it to rise the key line and bounce within at for possible bearish momentum towards 1.1316, should there be a clear break above 1.1534, you can still short this pair within the resistance zone 1.1832-1.1802, as long as price remains below 1.1832-1.1802 only short positions can be recommended on the chart above. I’m looking to sell EUR at 1.1534 with my take profit at 1.1316 and stop loss around 1.1641.Long positions may only be advisable in case of a clear break above 1.1832-1.1802 towards 1.2183.

Trade signal

Sell EUR at 1.1534 with your take profit at 1.1316 and stop loss around 1.1641.

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