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SHORT:Euro’s sell off from Friday’s 6-month high

Euro’s sell off from Friday’s 6-month high at 1.1199 to 1.1112 suggests upmove from 2019 trough at 1.0880 (October) has made a temporary top there and consolidation with downside bias remains for stronger retracement to 1.1071.
Offers are now seen at 1.1140/50 and more above at 1.1160/70 with stops building up above there whilst initial bids are noted at 1.1050/60. Hence, selling on intra-day recovery is the way to go. We should take not of High impact news coming out for EUR: (French Flash Services PMI, German Flash Manufacturing PMI,Flash Manufacturing PMI ….coming out from 12:15pm GMT +4)

Signal Specification

Pair:EUR/USD
Entry Type:SELL
Entry: 1.11686
Tp: 1.09809
Sl: 1.12681
R/R: 1.89
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16 Dec 2019 11:55 am Posted by admin