Wait for a correction to sell EUR. | 06 June 2019
06 June 2019, EUR/USD
Technical observation
On the 4 hour chart above, price went above a resistance zone it established around 1.1257-1.1252 with then continued to rise, however, it could not be contained above the zone and ended up penetrating below it with a big red candle, right now it is retracing to the just broken zone and my expectation is rejection within it for bearish price rally towards the support 1.1172 and a possible breakout below it too for a further decline towards 1.1106.Wait for a correction to the zone 1.1257-1.1252 and a rejection within it to sell EUR with your take profit at 1.1172 and stop loss at 1.1277.Only short positions can be recommended.
Trade recommendation
Wait for a correction to 1.1257-1.1252 to sell EUR.
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.
