18 Abril 2019, EUR/USD
Technical observation
Yesterday EUR rose to the resistance line 1.1320 as predicted and could not penetrate above it, it was rejected and is currently trading between the level and a supportive zone 1.1283-1.1280, I expect either a decline to the zone followed by a bounce within it to re-buy EUR or a rise to the line 1.1320 followed by a breach above it for further bullish momentum of price. Remain flat and wait for either a pullback to 1.1283-1.1280 and a bounce within it to re-buy EUR with your take profit at 1.1320 and stop loss at 1.1269, or a clear break above a 1.1320 and a correction to it to buy. Short positions may only be advisable below 1.1283-1.1280.
Trade recommendation
Remain flat.
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