We're flat | 04 June 2019
04 June 2019, EUR/USD
Technical observation
The pair on the hourly chart above is on an upward trend; price rose and penetrated above a resistance zone 1.1223-1.1219 with a big green candle before rising to a resistance line 1.1257 but could not break above it. Currently EUR is trading at the line 1.1257 on an increasing bearish momentum and I expect a correction to the just broken zone followed by a rejection within it for bullish price rally towards 1.1257 and a possible break above it for a further rise in price. Remain flat and wait for a correction to 1.1223-1.1219 and a bounce within it to buy EUR with your take profit at 1.1257 and stop loss at 1.1201.
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.
