Forex Technical Analysis: Trend potential – We’re short towards 1.1249

EURUSD – Up

We're short towards 1.1249

Technical observation

Yesterday EUR spiked upwards penetrating above the resistance zone 1.1355-1.1348, it could not be contained above the zone and ended up breaking below it.Right now it is trading on an increasing bullish bias and I expect a loss of this movement within the zone for bearish price rally towards 1.1249.You can sell this pair within 1.1355-1.1348 with your take profit at 1.1249 and stop loss at 1.1388.Should EUR breach above 1.1355-1.1348 with a big green candle, wait for a correction to the just broken zone and a bounce within it confirming possible upwards momentum before you pick long positions with your take profit at 1.1499.

Trade recommendation

Sell EUR within 1.1355-1.1348 with your take profit at 1.1249 and stop loss at 1.1388.

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