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Remain flat

Remain flat | 03 July 2019

03 July 2019, EUR/USD

Remain flat

Technical observation

EUR pulled itself to the upper side to a resistance zone 1.1472-1.1454 but it could not reach it and was rejected around the zone, since then it has been declining steadily towards a supportive level 1.1257 and is currently trading above it, I expect either a clear penetration below the line with a big red candle or a rejection at it for another rise to 1.1472-1.1454, in case of a clear breakout below the line wait for a retracement to it and a rejection confirming possible bearish price rally before you sell EUR, and should price be rejected at 1.1257, wait for another correction to 1.1472-1.1454 and a bounce within it to sell EUR.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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