01 Julio 2019, EUR/USD
Technical observation
Last week EUR rose to a resistance zone 1.1465-1.1401 but it could not break above it, price was rejected and is currently trading on an increasing bearish momentum, I expect bearish movements of this pair this week and the weeks to come to the supportive level 1.0806, if this level is broken then more bearish momentum can be anticipated. If you went short within 1.1465-1.1401, hold on to that position with your take profit at 1.0806 and stop loss at 1.1666, if you are not in a trade yet, you can still pick short positions now. As long as EUR is contained below 1.1465-1.1401, only short positions can be recommended.
Trade recommendation
Remain short with your take profit at 1.0806.
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