Remain flat | 30 May 2019

30 May 2019, EUR/USD

Remain flat

Technical observation

Yesterday price rose towards the resistance 1.1177 but could not reach it, it was rejected below the link and then declined up to the support 1.1132 but did not penetrate below it. Right now EUR is trading above the support on an increasing bullish momentum and I expect either a correction to the line 1.1177 and a rejection at it or, a clear penetration below the line 1.1132 with a big red candle followed by a retracement to it for downwards movement of price. Remain flat and wait for either a correction to 1.1177 or a clear breach below 1.1132 and a correction to it to sell EUR with your take profit at 1.1106 and stop loss at 1.1143.

Trade recommendation

Remain flat.

Imelda Maseno
Analyst of «FreshForex» company
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