We're flat | 24 January 2019
24 January 2019, EUR/USD
Technical observation
EUR is currently trading with an increasing bullish momentum bias, my expectation is a rise to the resistance zone 1.1428-1.1422 followed by a bounce within it to for possible downwards movements towards 1.1344, Right now you can remain neutral temporarily and wait for the correction to 1.1428-1.1422 and a rejection within it to sell this pair with your take profit at 1.1344 and stop loss at 1.1453, as long as price is contained below 1.1428-1.1422 only short positions may be recommended, long positions may only be ideal in case of a clear penetration above 1.1428-1.1422 followed by a correction to it more than once.
Trade recommendation
Remain neutral.
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.
