Remain short | 29 July 2019

Technical observation

EUR has been declining for several weeks now and I still expect more downwards movements towards the key line 1.0830. If you sold this pair within the zone 1.1465-1.1401 after a bounce, remain short with your take profit at 1.0830 and stop loss at 1.1753 and should price penetrate below the line 1.0830, wait for a correction and a rejection at it confirming more bearish momentum before you continue short with this pair. Long positions may only be recommended in case of a clear breakout above the zone 1.1465-1.1401 with a big green candle followed by a correction and a rejection within it.

Trade recommendation

Remain short with your take profit at 1.0830.