Remain flat | 09 March 2020

Technical observation

EUR rose to the upper side penetrating above a resistance zone 1.1186-1.1175 with a big green candle then continued to rise even higher. Right now EUR is rallying below a resistance level 1.1453 and i expect a rise to it followed by a rejection at it for a correction to the broken zone 1.1186-1.1175. My advice, remain flat and wait for a correction to the zone mentioned above and a rejection within it to buy EUR with your take profit at 1.1453 and stop loss at 1.1092. In case there’s no rejection of price at 1.1453 but a clear breakout above it with a big green candle, wait for a correction to it to buy EUR.

Trade recommendation

Remain flat.