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Remain flat

Remain flat | 19 April 2019

19 April 2019, EUR/USD

Remain flat

Technical observation

On the weekly chart above, price is declining instead of rising as I had predicted in the beginning of the week, I expect this week’s candle to close bearish but i expect a possible retracement to the resistance zone 1.1528-1.1475 next week followed by a bounce within it for downwards movement of price towards the key level 1.0444.My advice, remain flat and wait for a correction to the above mentioned zone and a rejection within it to sell EUR with your take profit at 1.0444 and stop loss at 1.1823. As long as this pair is contained below the zone 1.1528-1.1475, only short positions can be recommended on the chart above.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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