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Remain short with your take profit at 1.0437.

Remain short with your take profit at 1.0437. | 08 March 2019

08 March 2019, EUR/USD

Remain short with your take profit at 1.0437.

Technical observation

This week EUR has been declining steadily towards a support 1.0437, I still expect more of this movement next week and several weeks to come, if you sold this pair within the zone 1.1563-1.1471 in the beginning of the week, hold on to that positon with your take profit at 1.0437 and stop loss at 1.1853.If you had not sold it yet, you can still pick short positons now towards 1.0437. Should there be a clear penetration above 1.1563-1.1471 upward momentum of price can be anticipated, you can only buy EUR after a correction to the just broken zone and a bounce within it. On your way upwards the key lines to look for are, 1.2470 and 1.3695.

Trade recommendation

Remain short with your take profit at 1.0437.

Imelda Maseno
Analyst of «FreshForex» company
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