We're neutral temporarily | 25 March 2019
25 March 2019, EUR/USD
Technical observation
On the hourly chart above, price went down a supportive zone 1.1327-1.1321 with a big red candle and is currently rallying below it on an increasing bullish bias, I expect a loss of this movement within the above mentioned zone for possible bearish price rally towards 1.1215. Right now remain flat temporarily and wait for a retracement to 1.1327-1.1321 and a rejection within it to sell EUR with your take profit at 1.1215 and stop loss at 1.1349.If this take profit is hit and price penetrates below it clearly wait for a correction to it confirming further bearish price rally before you continue short with this pair with your take profit at 1.1178.
Trade recommendation
Remain flat temporarily.
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.
