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Flat

Flat | 11 March 2020

11 March 2020, EUR/USD

Flat

Technical observation

Yesterday EUR traded with an increasing bearish momentum after it was rejected at the resistance level 1.1453. More bearish movements can be expected today towards the supportive zone 1.1186-1.1175 followed by a rejection within it. If you are currently flat with this pair, remain so and wait for a correction to the zone mentioned above and a rejection within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1094. As long as price is contained above the zone 1.1186-1.1175, bullish movements can be anticipated. Continue long with this pair after a clear breakout above the ley level 1.1453 and a correction to it.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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