Remain flat

15 March 2019, EUR/USD

Remain flat

Technical observation

On the daily chart above, price is rallying between a resistance zone 1.1551-1.1520 and a support 1.1213, I expect either a correction to the zone or a decline to 1.1213 followed by a breakout below it.In case of a correction to 1.1551-1.1520, wait for a rejection within it to sell EUR with your take profit at 1.1213 and stop loss at 1.1654, however should there be a clear penetration below 1.1213 , wait for pullback and a bounce at it before you pick short positions with your take profit at 1.0822.Right now remain flat and wait for either a correction to 1.1551-1.1520 or a clear breach below 1.1213 to trade this pair.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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