Forex Technical Analysis: Trend potential – Wait for a close at 1.1454 to sell EUR.

EURUSD – Up

Wait for a close at 1.1454 to sell EUR.

Technical observation

The pair on the daily chart above is rally around a resistance level 1.1454, my expectation is a rejection at it followed by possible bearish price rally towards 1.1214 and a breakout below it for a further decline , wait for a close at 1.1454 then sell this commodity with your take profit at 1.1214 and stop loss at 1.1609, as long as EUR is contained below the resistance 1.1454, only short positions may be advisable on the daily chart above but should there be a clear penetration above it with a big green candle then bullish price rally may be anticipated towards the key resistance zone 1.1840-1.1799 or even higher to the level 1.2185.

Trade recommendation

Wait for a close at 1.1454 to sell EUR.

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