We're flat | 03 May 2019
03 May 2019, EUR/USD
Technical observation
On the weekly chart above, price is still trading below a resistance zone 1.1528-1.1457 and I expect this weeks’ candle to close bullish and possible upwards price rally towards the above mentioned zone next week. It is ideal to remain flat and wait for a correction to 1.1528-1.1457 and a rejection within it to pick short position with your take profit at 1.0444 and stop loss at 1.1854, should there be no rejection within 1.1528-1.1457 but a clear penetration above it with a big green candle, bullish momentum of price towards the key level 1.2456 can be anticipated after a correction to the just broken zone and a rejection within it.
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.
