Remain flat | 19 June 2019

Technical observation

Since the beginning of the week, EUR has been trading on an increasing bearish momentum and I expect it to continue to the lower side to the supportive level 1.0793 followed by a clear penetration below it and correction to it for a further surge to the lower side. If you are short right now, remain in the trade with your take profit at 1.0793 and stop loss at 1.1814 but if you’re not in a trade yet, remain flat and wait for either another correction to the resistance zone 1.1530-1.1464 and a bounce within it, or, a breach below 1.0793 followed by a correction to it to sell EUR. Only short positions look ideal and may be recommended.

Trade recommendation

Remain flat.