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Buy EUR now within the zone 1.1178-1.1176

Buy EUR now within the zone 1.1178-1.1176 | 03 June 2019

03 June 2019, EUR/USD

Buy EUR now within the zone 1.1178-1.1176

Technical observation

On the hourly chart above, price went above a resistance line 1.1143 with a big green candle, it the corrected to the same line and was contained above it before rising to a resistance zone 1.1178-1.1176 and even penetrating above it. Price has been correcting to the just broken zone and is currently trading within it on an increasing bearish momentum. I expect a loss of this movement within the zone for possible bullish price rally towards the zone 1.1217-1.1213. Buy EUR now within the zone 1.1178-1.1176 with your take profit at 1.1213 and stop loss at 1.1165, continue long after a clear breakout above 1.1217-1.1213.

Trade recommendation

Buy EUR now within the zone 1.1178-1.1176 with your take profit at 1.1213 and stop loss at 1.1165.

Imelda Maseno
Analyst of «FreshForex» company
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