Remain neutral temporarily. | 25 April 2019

Technical observation

Yesterday we expected bullish momentum towards the line 112.66 but USD only rose for some hours before declining towards the zone 111.76-111.69, right now it is trading above the zone on an increasing bearish momentum and I expect a loss of this movement within the zone for possible upward movements of this pair. Remain neutral temporarily and wait for the pullback to 111.76-111.69 and a rejection within it to re-buy USD with your take profit at 112.66 and stop loss at 111.47. Short positions may only be advisable in case of a clear penetration below 111.76-111.69 and a correction to it.

Trade recommendation

Remain neutral temporarily.