05 April 2019, EUR/USD
Technical observation
On the weekly chart above price is rallying below a resistance zone 1.1528-1.1457 on an increasing bullish momentum, I expect a rise to the zone followed by a bounce within it to short EUR towards 1.0444. Right now remain neutral and wait for a correction to the above mentioned zone and a rejection within it to sell EUR with your take profit at 1.0444 and stop loss at 1.1749, in case there’s no rejection within 1.1528-1.1457 but a clear penetration above it with a big green candle, bullish momentum of this pair towards the resistance line 1.2456 can be anticipated after a pull back to the just broken zone and a rejection within it.
Trade recommendation
Remain neutral.
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