24 April 2019, EUR/USD
Technical observation
Yesterday EUR declined up to a key level 1.1206 and is currently trading above it on an increasing bullish bias, my expectation is either a correction to the resistance line 1.1254 or a clear breakout below 1.1206 with a big red candle followed by a correction to it. In case of a retracement to 1.1254, wait for a rejection at it to re-sell EUR with your take profit at 1.1206 and stop loss at 1.1267, however, should there be a clear breach below 1.1206, wait for a pullback to it and a bounce to sell this pair with your take profit at 1.1176 and stop loss at 1.1220, as it is o the hourly chart above, only short positions can be advisable.
Trade recommendation
Remain neutral.
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