01 Marzo 2019, EUR/USD
Technical observation
From last week, EUR has been retracing to a resistance zone 1.1535-1.1450, I expect this week’s candle to close below the zone for more bullish price rally next week followed by a rejection within the zone for possible bearish price momentum towards 1.0444. You can wait for the pullback to 1.1535-1.1450 and a rejection within it to sell EUR with your take profit at 1.0444 and stop loss at 1.1866, more bearish momentum can be expected in case of a clear penetration below 1.0444. As long as the pair on the weekly chart above is contained below 1.1535-1.1450, only short positions look ideal and may be recommended.
Trade recommendation
Sell EUR within 1.1535-1.1450 with your take profit at 1.0444 and stop loss at 1.1866.
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