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Wait for a correction

Wait for a correction | 22 April 2019

22 April 2019, EUR/USD

Technical observation

Last week, price went down instead of retracing to the resistance zone 1.1528-1.1457 as predicted. This week i expect either more bearish rally towards the key line 1.0444 or a rise to the above mentioned zone. In case of a rise to 1.1528-1.1457, wait for a rejection within it to re-sell EUR with your take profit at 1.0444 and stop loss at 1.1851, however, should there be more bearish movements of price remain short if you already sold this pair within 1.1528-1.1457 with your take profit at 1.0444.Long positions may only be advisable in case of a clear penetration above 1.1528-1.1457 followed by a correction to it.

Trade recommendation

Wait for a correction to 1.1528-1.1457 to sell EUR.

Imelda Maseno
Analyst of «FreshForex» company
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