Remain short with your take profit at 1.0437. | 11 February 2019

Technical observation

Last week EUR went down after a bounce within the resistance zone 1.1513-1.1415 and I still expect more of this movement this week and the weeks to come, in case you sold this pair within 1.1513-1.1415 after a rejection, hold on to that position with your take profit at 1.0437 and stop loss at 1.1812.If you had not sold it yet you can still sell EUR now with your take profit still at 1.0437.As long as the pair on the weekly chart above is contained below the zone 1.1513-1.1415 only short positions can be recommended. Long positions may only be advisable in case of a clear penetration above 1.1513 followed by a correction to it.

Trade recommendation

Remain short with your take profit at 1.0437.