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Wait for a correction to sell EUR.

Wait for a correction to sell EUR. | 15 April 2019

15 April 2019, EUR/USD

Technical observation

EUR is trading below a resistance zone 1.1528-1.1457 on an increasing bullish momentum and I expect a loss of this movement within the zone for possible bearish price rally towards the line 1.0564, you can wait for a correction to the above mentioned zone and a bounce within it to sell EUR with your take profit at 1.0564 and stop loss at 1.1858, in case there’s no rejection within 1.1528-1.1457 but a clear breach above it with a big green candle, wait for a correction to the just broken zone and a bounce within it to confirm possible upwards movement of price before you pick long positions towards the ley line 1.2548.

Trade recommendation

Wait for a correction to 1.1528-1.1457 to sell EUR with your take profit at 1.0564 and stop loss at 1.1858.

Imelda Maseno
Analyst of «FreshForex» company
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