Forecast EURUSD monday 31DEC18 first movement - 30m time frame
It is considered that the price action of EURUSD on friday 28/12/2018 is indicating an exhaustion of the bull strength, making a resistance at 1.14725 (higher registered price), reinforced by the last lower bottom (marked with the number 2) and last lower top (marked with the number 3), and by low significance buying candles which were contradicted by stronger selling candles.
Nevertheless the bear trend has to be confirmed through a breach of the registered support level at 1.14265 (lower registered price) (it is considered to pay attention at the psychological support price 1.143000) by a strong selling candle; only then should be placed a sell order.
It is suggested a stop loss at 1.14650, since it is the first top before the top marked with the number 3 (marked with the number 1), and 3 take profit levels, at 1.14100, 1.13900 and 1.13700, respectively, from which only one or two can be considered, depending on personal preferences, i.e., if it is preferred to open one, two or three positions on the same trade to guarantee profit (attention - opening more than one position means paying as much spread).
Nevertheless the bear trend has to be confirmed through a breach of the registered support level at 1.14265 (lower registered price) (it is considered to pay attention at the psychological support price 1.143000) by a strong selling candle; only then should be placed a sell order.
It is suggested a stop loss at 1.14650, since it is the first top before the top marked with the number 3 (marked with the number 1), and 3 take profit levels, at 1.14100, 1.13900 and 1.13700, respectively, from which only one or two can be considered, depending on personal preferences, i.e., if it is preferred to open one, two or three positions on the same trade to guarantee profit (attention - opening more than one position means paying as much spread).