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We're neutral

We're neutral | 03 April 2020

03 April 2020, EUR/USD

We're neutral

Technical observation

Yesterday price penetrated below a supportive level 1.0897 with a big red candle and is currently rallying below it. Right now, a correction to the just broken line followed by a clear bounce at it can be anticipated. If you sold this pair within the resistance zone 1.1150-1.1131, at the level 1.0897 was the ideal place to pick your profits. However, if you are currently flat, remain so and wait for a correction to the just broken line and a bounce at it to sell EUR with you your take profit at 1.0660 and stop loss at 1.0967. On the daily chart above only short positions look ideal and may be recommended.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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