Remain flat | 04 January 2019

04 January 2019, EUR/USD

Remain flat

Technical observation

EUR did not decline to 1.1214 as I predicted yesterday but instead it rose and is still rising towards the resistance zone 1.1472-1.1452, my expectation is a rejection of it within the zone followed by possible bearish price rally towards 1.1214, or a clear penetration above the zone with a big green candle and a retracement to it for possible bullish momentum of price towards 1.1819.If you are not in a trade yet, remain neutral and wait for a close within 1.1472-1.1452 to sell this pair with your take profit at 1.1214 and stop loss at 1.1582.Long positions may only be recommended above 1.1472-1.1452 after a confirmation of possible upwards movement.

Trade recommendation

Remain neutral

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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.
Imelda Maseno
Analyst of «FreshForex» company
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