Remain flat | 08 April 2019
08 April 2019, EUR/USD
Technical observation
On the chart above price is retracing to a resistance zone 1.1528-1.1457 and I expect a rejection of it within the zone for a surge to the lower side towards the level 1.0444, you can remain flat for now and wait for the 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 1.1739, in case of a clear breakout above 1.1528-1.1457, wait for a correction to and a rejection within it confirming possible bullish price rally before you pick long positions. Right now as long as EUR is contained below the zone 1.1528-1.1457, only short positions can be recommended.
Trade recommendation
Remain flat.
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.
