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We're flat

We're flat | 28 March 2019

28 March 2019, EUR/USD

We're flatWe're flat

Technical observation

For several days EUR has been trading between a resistance zone 1.1551-1.1520 and a supportive key line 1.1216, currently price is rallying around the support and my expectation is a clear breach below it with a big red candle followed by a correction to it for possible bearish momentum towards the line 1.0822.Remain flat and wait for the penetration below 1.1216 followed by a retracement to it to sell EUR with your take profit at 1.0822 and stop loss at 1.1316.In case of a clear breach below 1.0822, continue short after a correction to it followed by a bounce at it confirming further bearish momentum of EUR towards 1.0335.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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