We're neutral temporarily | 22 March 2019

22 March 2019, EUR/USD

Technical observation

For two consecutive weeks now, EUR has been rising steadily towards a resistance zone 1.1536-1.1457, currently it is rallying below the zone and my expectation is either a bounce within it or a clear penetration above it for possible bullish price rally towards 1.2654.Remain flat temporarily and wait for either a rejection within the above mentioned zone to sell this pair with your take profit at 1.0335 and stop loss at 1.1858, or a clear break above it with a big green candle followed by a correction and a bounce within it to buy EUR with your take profit at 1.2654 and stop loss at 1.1077.Right now remain flat temporarily.

Trade recommendation

Remain flat temporarily.

Imelda Maseno
Analyst of «FreshForex» company
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