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Remain short

Remain short | 22 May 2020

22 May 2020, EUR/USD

Remain short

Technical observation

Yesterday EUR declined as I had predicted and I still trading with an increasing bearish momentum, I expect this downward movement to continue to the support 1.0776 followed by a clear breakout below it. Remain short with this pair with your take profit at 1.0776 and stop loss at 1.1060. As it is on the daily chart above, only short positions look ideal and I can recommend. We can only anticipate bullish movements of EUR above the key level 1.0985 after a clear breach above it with a big green candle followed by a correction and a bounce at it. I expect further bearish price rally below the line 1.0776.

Trade recommendation

Remain short with your take profit at 1.0776.

Imelda Maseno
Analyst of «FreshForex» company
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