Remain short with your take profit at 1.0830 | 17 July 2019

Technical observation

EUR is currently trading with an increasing bearish momentum. After a rejection within the resistance zone 1.1465-1.1401, EUR pulled to the lower side with a big red candle, last week however it tried to rise but could not reach the zone 1.1465-1.1401. I still expect more of this downwards movement this week and the weeks to come towards the supportive level 1.0830. If you sold this pair within the above mentioned zone after a bounce hold on to that position with your take profit at 1.0830 and stop loss at 1.1761. Long positions may only be advisable above 1.1465-1.1401 after a clear breakout.

Trade recommendation

Remain short with your take profit at 1.0830 and stop loss at 1.1761.