Remain flat | 16 May 2019

16 May 2019, EUR/USD

Remain flat

Technical observation

On the chart above price is rallying between a resistance zone 1.1257-1.1251 and a support 1.1165, my expectation is either another retracement to the above mentioned zone followed by a rejection within it to re-sell EUR or a decline to the line 1.1165 and a clear penetration below it. In case of a correction to the zone 1.1257-1.1251, wait for a rejection within it to re-sell EUR with your take profit at 1.1165 and stop loss at 1.1285, and should there be a penetration below 1.1165, wait for correction to the just broken line and a bounce at it to confirm possible bearish momentum of price before you pick short positions.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
Agree with the review?
Traders' opinion:
Close
Log in
Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with accessing Client Area. How to enable cookie .
manager photo manager photo
Online-support
We will be pleased to answer any questions you may have

Write

Get bonus