Forex Technical Analysis: Trend potential – Look for sell orders from 1.10753 with your first take profit at 1.09440.

EURUSD – Up

Look for sell orders from 1.10753 with your first take profit at 1.09440.

Technical Observation:

EURUSD is in an active downtrend. Last week’s candle closed below a significant daily resistance line 1.10753. Since we had a bearish pin bar on the monthly chart, I’m we expecting a steep decline during this week and in the coming few weeks. Today and in the cause of this week, I recommend looking for sell orders with the first take profit at 1.0944. A break below this take profit will push the price even further to the lowerside towards 1.09150. And in case the price closes above 1.10753, then this will push the price upwards towards 1.11755.

Trade Recommendations:

Look for sell orders from 1.10753 with your first take profit at 1.09440.

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