Remain short | 05 March 2020
05 March 2020, EUR/USD
Technical observation
Yesterday EUR declined as we had predicted and as long as this pair is contained below the resistance zone 1.1186-1.1175, this bearish movement is still expected today towards the key level 1.0986. If you sold EUR within the above-mentioned zone after a rejection, remain short with your take profit at 1.0986 and stop loss at 1.1251. Should there be a clear breakout above 1.1186-1.1175 with a big green candle, this could be a possible indication of an increase in the numbers of buyers therefore bullish movements can be anticipated after a correction to the just broken zone towards the line 1.1453.
Trade recommendation
Remain short with your take profit at 1.0986.
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.
