Remain flat | 14 June 2019

Technical observation

This week EUR has been trading on an increasing bearish bias and i expected it to close that way, however, next week I expect a possible retracement to the upper side to the resistance zone 1.1520-1.1464 followed by a bounce within it to sell EUR. If you were flat this week, wait for correction to the above mentioned zone and a bounce within it to sell EUR with your take profit at 1.0915 and stop loss at 1.1814, should there be no correction to 1.1520-1.1464 but a decline to 1.0915 and a breach below it, wait for a correction to the just broken line and a rejection at it before you sell EUR with your take profit at 1.0324.

Trade recommendation

Remain flat.