Remain flat | 02 May 2019
02 May 2019, EUR/USD
Technical observation
On the weekly chart above, price has been trading on an increasing bullish momentum since the beginning of the week towards a resistance zone 1.1528-1.1457, my expectation is either a rejection of it within the zone for possible downwards movement of price or a clear penetration above 1.1528-1.1457 with a big green candle. Remain flat and wait for the correction to1.1528-1.1457 to sell EUR with your take profit at 1.0444 and stop loss at 1.1851, in case of a clear breach above 1.1528-1.1457, wait for a retracement to the just broken zone and a rejection within it before you buy EUR with your take profit at 1.2456.
Trade recommendation
Remain flat.
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.
