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Buy EUR within 1.1322-1.1316

Buy EUR within 1.1322-1.1316 | 14 March 2019

14 March 2019, EUR/USD

Buy EUR within 1.1322-1.1316

Technical observation

On the hourly chart above, EUR penetrated above a resistance zone 1.1322-1.1316 with a big green candle, price then corrected to the just broken zone and was rejected before rallying up for a few hours. Currently this pair is trading on an increasing bearish momentum within the supportive zone and my expectation is a bounce within it for possible bullish price rally towards the resistance line marked at 1.1409.As long as EUR is contained above the zone 1.1322-1.1316 only long positions may be recommended on the chart above. Short positions may only be ideal below the zone towards the key supportive level 1.1251.

Trade recommendation

Buy EUR within 1.1322-1.1316 with your take profit at 1.1409 and stop loss at 1.1291.

Imelda Maseno
Analyst of «FreshForex» company
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