Remain short towards 1.0444. | 15 February 2019

15 February 2019, EUR/USD

Remain short towards 1.0444.

Technical observation

Just as I predicted last week, this pair declined this week too and I still expect more of this movement next week towards the support level marked at 1.0444.If you picked short position within the resistance zone 1.1542-1.1457 after a bounce, you can hold on to that position with your take profit at 1.0444 and stop loss at 1.1823, in case of a breach below 1.0444, more downwards momentum can be anticipated. On the weekly chart above long positions may only be recommended above 1.1542-1.1457 towards 1.2477 but as long as price is contained below the zone only short positions look ideal and may be advisable.

Trade recommendation

Remain short towards 1.0444.

Imelda Maseno
Analyst of «FreshForex» company
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