Remain flat | 21 Enero 2019

21 Enero 2019, EUR/USD

Remain flat

Technical observation

On the daily chart above, EUR broke above a key resistance zone 1.1475-1.1453 with a big green candle but could not be contained above it and so it broke below it before rally down for several days, currently it is moving on an increasing bullish momentum and I expect a loss of this movement within the above mentioned zone for possible bearish price rally towards the support 1.1216. You can remain flat and wait for the pullback to 1.1475-1.1453 and a rejection within it to sell EUR with your take profit at 1.1216 and stop loss at 1.1570.Long positions may only be recommended above 1.1475-1.1453 in case a breach above it followed by a correction to it.

Trade recommendation

Remain flat.

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Imelda Maseno
Analyst of «FreshForex» company
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