Remain flat | 18 April 2019

Technical observation

Yesterday EUR rose to the resistance line 1.1320 as predicted and could not penetrate above it, it was rejected and is currently trading between the level and a supportive zone 1.1283-1.1280, I expect either a decline to the zone followed by a bounce within it to re-buy EUR or a rise to the line 1.1320 followed by a breach above it for further bullish momentum of price. Remain flat and wait for either a pullback to 1.1283-1.1280 and a bounce within it to re-buy EUR with your take profit at 1.1320 and stop loss at 1.1269, or a clear break above a 1.1320 and a correction to it to buy. Short positions may only be advisable below 1.1283-1.1280.

Trade recommendation

Remain flat.