17 Abril 2019, EUR/USD
Technical observation
On the hourly chart above, price was rejected within a supportive zone 1.1283-1.1280 today at 1 am and since then it has been rising steadily towards a key level 1.1320, I expect a rejection at the line followed by a correction to 1.1283-1.1280 to re-buy EUR. In case you bought EUR within 1.1283-1.1280 after a bounce, hold on to that position with your take profit at 1.1320 and stop loss at 1.1267, but if you had not bought it yet, wait for another retracement to 1.1283-1.1280 and a rejection within it to buy. Should there be a clear breakout below 1.1283-1.1280 with a big red candle, downward movements of EUR can be expected.
Trade recommendation
Remain long with your take profit at 1.1320 and stop loss at 1.1267.
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