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We're flat

We're flat | 21 June 2019

21 June 2019, EUR/USD

We're flat

Technical observation

Yesterday EUR sent a tail to the supportive zone it established around 1.1262-1.1257 but price could not reach the zone and was rejected just above it before starting to rise. Right now EUR is still trading on an increasing bullish bias and I expect more of this movements towards the resistance line 1.1331 followed by either a break above it or a rejection at it. If you bought EUR around 1.1262-1.1257, hold on to that position with your take profit at 1.1331 and stop loss at 1.1236, if you are not in a trade yet, remain flat and wait for either another correction to 1.1262-1.1257 break above 1.1331 and a correction to it to buy EUR.

Trade recommendation

We are flat.

Imelda Maseno
Analyst of «FreshForex» company
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