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Remain short

Remain short | 05 March 2020

05 March 2020, EUR/USD

Technical observation

Yesterday EUR declined as we had predicted and as long as this pair is contained below the resistance zone 1.1186-1.1175, this bearish movement is still expected today towards the key level 1.0986. If you sold EUR within the above-mentioned zone after a rejection, remain short with your take profit at 1.0986 and stop loss at 1.1251. Should there be a clear breakout above 1.1186-1.1175 with a big green candle, this could be a possible indication of an increase in the numbers of buyers therefore bullish movements can be anticipated after a correction to the just broken zone towards the line 1.1453.

Trade recommendation

Remain short with your take profit at 1.0986.

Imelda Maseno
Analyst of «FreshForex» company
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