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Remain neutral

Remain neutral | 26 May 2020

26 May 2020, EUR/USD

Remain neutral

Technical observation

The pair on the daily chart above is trading with an increasing bullish momentum, however, I anticipate a rally towards the supportive the level 1.0776 followed by a clear penetration below it. If you are currently neutral with this pair, remain so and wait for a clear penetration below the line 1.0776 and a correction to it to sell EUR. Should there be no decline to the support but a clear breakout above the line 1.0985 with a big green candle, wait for a retracement to the just broken line and bounce at it confirming possible bullish movement of price before you pick long positions towards the key level 1.1191.

Trade recommendation

Remain neutral.

Imelda Maseno
Analyst of «FreshForex» company
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