We're flat | 24 April 2019
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.
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.
