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Remain flat

Remain flat | 09 May 2019

09 May 2019, EUR/USD

Remain flat

Technical observation

EUR is still trading with a neutral bias, it is rallying between a zone 1.1257-1.1251 and a support 1.1165 and may end up breaking below 1.1165.If this pair can break below the line 1.1165 then I will expect a steep rally to the lower side, however if it rises to the above mentioned zone and is rejected within it, you can still sell EUR within the zone with your take profit at 1.1165 and stop loss at 1.1280.Long positions may only be recommended in case of a clear penetration above 1.1257-1.1251 with a big green candle followed by a correction to it and a rejection within it. Right now remain flat and look for short positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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