Wait | 16 March 2020
16 March 2020, EUR/USD
Technical observation
On Friday, EUR continued to decline below zone 1.1186-1.1175 it had broken below. I expect a correction to the just broken zone followed by a bounce within it for possible bearish price rally towards the level 1.0986. Remain flat and wait for a retracement to 1.1186-1.1175 and a bounce within it to sell EUR with your take profit at 1.0986 and stop loss at 1.1259. If 1.0986 is hit and there’s a clear breakout below it with a big red candle, wait for a pullback to it and a rebound within it to continue short with this pair towards the key level 1.0784. Only short positions can be recommended on the chart above.
Trade recommendation
Wait for a retracement to sell EUR.
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.
