Wait for a correction to sell EUR. | 15 July 2019

Technical observation

Last week EUR rose against the US dollar and is still showing signs of moving up towards the zone 1.1465-1.1401, however, I expect a loss of this upward movement within the zone for bearish price rally towards the key line 1.0806 followed by a possible break below it. My advice, wait for a correction to 1.1465-1.1401 and a rejection within it to sell EUR with your take profit at 1.0806 and stop loss at 1.1755, in case of a breakout below 1.0806, wait for a pullback and a bounce at it confirming further bearish momentum before you continue short with EUR. Long positions may only be advisable above 1.1465-1.1401.

Trade recommendation

Wait for a correction to 1.1465-1.1401 to sell EUR.