We're flat | 05 April 2019
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.
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.
