Technical observation
USD has been contained below a resistance line 112.09 for several days now and as long as price is below it, only bearish movements can be expected. If you sold this pair at the line 112.09 after a rejection, remain short with your take profit at the line 108.17 and stop loss at 113.12. Further bearish movements can be expected should there be a clear penetration below the supportive zone 108.17-107.99 with a big red candle followed by a retracement to it. On your way downwards the key levels to look for are 104.96 and 102.28. Long positions may only be advisable above the line 112.09 towards 114.53.
Trade recommendation
Remain short with your take profit at the line 108.17.
Origin: FreshForex
