Remain flat temporarily. | 28 June 2019

Technical observation

This week, EUR has been trading on an increasing bearish bias below the zone 1.1543-1.1464 and I expect it to close that way. Next week however, I expect a rise to the resistance zone followed by a rejection within it for bearish price movements towards the key line 1.0877. My advice, remain flat temporarily and wait for a correction to 1.1543-1.1464 and a bounce within to sell EUR with your take profit at 1.0877 and stop loss at 1.1860, in case of a break below 1.0877 then more downwards movement of price towards the supportive level 1.03228 can be expected. Long positions may only be recommended above zone 1.1543-1.1464.

Trade recommendation

Remain flat temporarily.