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Remain neutral

Remain neutral | 10 January 2019

10 January 2019, EUR/USD

Remain neutral

Technical observation

Yesterday, a breakout was seen when price went up above a resistance zone 1.1509-1.1476, this pair is still rising and my expectation is a correction to the just broken zone followed by a bounce within for possible bullish price rally towards 1.1840 and a breakout above it for a further rise in price towards 1.2164.Remain flat and wait for the correction to the above mentioned zone and a rejection within it to buy EUR on the second retracement to it just tom ensure the breakout above 1.1509-1.1476 was not false. Continue long after a breakout above 1.1840 followed by a correction to it confirming further bullish momentum of Euro.

Trade recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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