Remain flat temporarily. | 02 January 2019
02 January 2019, EUR/USD
Technical observation
Despite the correction to the upper side EUR is still below the resistance zone 1.1466-1.1420 and as long as it is contained below it only bearish momentum can be anticipated towards 1.0782.Price is currently rallying within the above mentioned zone and my expectation is a bounce within it for possible downwards movement next week. Right now you can remain neutral temporarily and wait for the close within 1.1466-1.1420 to sell EUR with your take profit at 1.0782 and stop loss at 1.1659, or you can still place a pending trade right now within the zone. Should there be a penetration below 1.0782 then a rally towards 1.0331 will be expected.
Trade recommendation
Remain flat temporarily.
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
