We're short within 1.1186-1.1175 | 04 March 2020

Technical observation

EUR has been trading with an increasing bullish momentum for several days and is currently within a resistance zone 1.1186-1.1175. As long as price is contained below this zone, a possible decrease towards the key level 1.0986 can be expected after a bounce. Wait for a rejection of price within the zone 1.1186-1.1175 to sell EUR with your take profit at 1.0986 and stop loss at 1.1251. In case EUR is not contained below the zone but clearly penetrates above it with a big green candle, bullish price movements towards the resistance level 1.1453 can be anticipated after a correction to the just broken zone.

Trade recommendation

Sell EUR within 1.1186-1.1175 with your take profit at 1.0986 and stop loss at 1.1251.