20 May 2019, EUR/USD
Technical observation
EUR is trading on an increasing bearish momentum between a resistance zone 1.1521-1.1457 and a support 1.0838, I expect bearish price rally towards the support followed by a clear penetration below it and a correction to it for downwards movements of price.Wait for a clear breach below the line 1.0838 followed by a retracement to it to sell EUR with your take profit at 1.0243 and stop loss at 1.1063, however should there be no decline to 1.0838 but a correction to 1.1521-1.1457, wait for a rejection within it to confirm possible bearish price rally before you sell EUR with your take profit at 1.0838 and stop loss at 1.1750.
Trade recommendation
Remain flat.
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