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Remain neutral

Remain neutral | 17 May 2019

17 May 2019, EUR/USD

Remain neutral

Technical observation

This week on the weekly chart above , EUR traded on an increasing bearish momentum towards 1.0835, this movement can still be expected next week and in the coming weeks. As it is on the chart above, if you are not in a trade yet you can remain flat and wait for either another correction to the zone 1.1513-1.1450 and a rejection within it to short this pair or a decline to 1.0835 followed by a correction to it to short EUR. Long positions may only be recommended in case of a clear breach above 1.1513-1.1450 followed by a correction to it but as long as price is below the zone only short positions can be advised.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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