Technical observation
USD corrected to the zone 107.99-107.79 but could not penetrate above it and was rejected. Currently it is rallying with an increasing bearish momentum toward the supportive level 104.96 and I expect a possible breakout below it. If you sold USD within the above-mentioned zone after a bounce, remain short with your take profit at 104.96 and stop loss at 109.08. Continue short with this pair towards the key level 102.28 in case of a breach below 104.96 followed by a correction and a rejection at it. As long as USD is contained below the resistance zone 107.99-107.79, only short positions can be recommended.
Trade recommendation
Remain short with your take profit at 104.96.
Origin: FreshForex
