Flat | 18 July 2019
18 July 2019, EUR/USD
Technical observation
On the daily chart above price is trading between a resistance zone 1.1425-1.1400 and a supportive level 1.1128 on an increasing bullish bias. I expect either a rise to the above mentioned zone followed by a bounce within it for downwards movements towards 1.1128, or a decline to 1.1128 followed by a clear breakout below it and a retracement to it for bearish movements of price towards the line 1.0818. In case EUR rises to 1.1425-1.1400, wait for a bounce within it before you sell it with your take profit at 1.1128 and stop loss at 1.1543, and in case of a breach below 1.1128 wait for a correction to it before you sell EUR.
Trade recommendation
Remain flat.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
