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Wait for a correction to sell EUR.

Wait for a correction to sell EUR. | 10 June 2019

10 June 2019, EUR/USD

Wait for a correction to sell EUR.

Technical observation

Last week EUR corrected to the resistance zone 1.1517-1.1472 but could not reach it, I expect more bullish price rally towards the zone this week and a rejection within it for downwards movement of price towards the line 1.0832. Wait for a correction to the zone 1.1517-1.1472 and a rejection within it to re-sell EUR with your take profit at 1.0832 and stop loss at 1.1816. In case price is not rejected within the above mentioned zone but instead penetrates above it with a big green candle, wait for a confirmation of possible bullish movement of price before you pick long position with your take profit at 1.2083 and stop loss at 1.1211.

Trade recommendation

Wait for a correction to 1.1517-1.1472 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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